Applied Materials Inc. Q2 Profit Increases, but misses estimates

(RTTNews) - Applied Materials Inc. (AMAT) reported a profit for its second quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $1.54 billion, or $1.74 per share. This compares with $1.33 billion, or $1.43 per share, in last year's second quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.64 billion or $1.85 per share for the period.

Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $6.25 billion from $5.58 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.54 Bln. vs. $1.33 Bln. last year. -EPS (Q2): $1.74 vs. $1.43 last year. -Analyst Estimate: $1.90 -Revenue (Q2): $6.25 Bln vs. $5.58 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $1.59 to $1.95 Next quarter revenue guidance: $5.85 - 6.65 Bln