Applied Materials Inc. Q1 Earnings Drop 11%

(RTTNews) - Applied Materials Inc. (AMAT) released a profit for first quarter that declined compared to the same period last year.

The company said its bottom line declined to $302 million, or $0.26 per share. This was lower than $338 million, or $0.27 per share, in last year's first quarter.

Analysts had expected the company to earn $0.25 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.2% to $2.26 billion. This was down from $2.36 billion last year.

Applied Materials Inc. earnings at a glance:

-Earnings (Q1): $302 Mln. vs. $338 Mln. last year. -Earnings Decline (Y-o-Y): -10.7% -EPS (Q1): $0.26 vs. $0.27 last year. -EPS Decline (Y-o-Y): -3.7% -Analysts Estimate: $0.25 -Revenue (Q1): $2.26 Bln vs. $2.36 Bln last year. -Revenue Change (Y-o-Y): -4.2%

-Guidance: Next quarter EPS guidance: $0.30 - $0.34