Applied Materials Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Applied Materials Inc. (AMAT) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $2.02 billion, or $2.41 per share. This compares with $1.72 billion, or $2.02 per share, in last year's first quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.78 billion or $2.13 per share for the period.

Analysts on average had expected the company to earn $1.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $6.71 billion from $6.74 billion last year.

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

-Earnings (Q1): $2.02 Bln. vs. $1.72 Bln. last year. -EPS (Q1): $2.41 vs. $2.02 last year. -Analyst Estimate: $1.91 -Revenue (Q1): $6.71 Bln vs. $6.74 Bln last year.

-Guidance: Next quarter EPS guidance: $1.79 - $2.15 Next quarter revenue guidance: $6.10 - $6.90 Bln