Applied Materials Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Applied Materials Inc. (AMAT) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.59 billion, or $1.85 per share. This compares with $1.71 billion, or $1.89 per share, in last year's fourth quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.74 billion or $2.03 per share for the period.

Analysts on average had expected the company to earn $1.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.3% to $6.75 billion from $6.12 billion last year.

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

-Earnings (Q4): $1.59 Bln. vs. $1.71 Bln. last year. -EPS (Q4): $1.85 vs. $1.89 last year. -Analyst Estimates: $1.73 -Revenue (Q4): $6.75 Bln vs. $6.12 Bln last year.

-Guidance: Next quarter EPS guidance: $1.75 to $2.11 Next quarter revenue guidance: $6.30 - $7.1 Bln