Applied Materials Inc. Q1 Profit Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) revealed earnings for first quarter that beat the Street estimates.

The company's bottom line totaled $1.72 billion, or $2.02 per share. This compares with $1.79 billion, or $2.00 per share, in last year's first quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.72 billion or $2.03 per share for the period.

Analysts on average had expected the company to earn $1.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $6.74 billion from $6.27 billion last year.

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

-Earnings (Q1): $1.72 Bln. vs. $1.79 Bln. last year. -EPS (Q1): $2.02 vs. $2.00 last year. -Analyst Estimates: $1.93 -Revenue (Q1): $6.74 Bln vs. $6.27 Bln last year.

-Guidance: Next quarter EPS guidance: $1.66 to $2.0 Next quarter revenue guidance: $6.00 - $6.80 Bln