Applied Materials Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Applied Materials Inc. (AMAT) reported a profit for its first quarter that increased from the same period last year.

The company's bottom line came in at $1.13 billion, or $1.22 per share. This compares with $0.89 billion, or $0.96 per share, in last year's first quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.28 billion or $1.39 per share for the period.

Analysts had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.0% to $5.16 billion from $4.16 billion last year.

Applied Materials Inc. earnings at a glance:

-Earnings (Q1): $1.28 Bln. vs. $0.90 Bln. last year. -EPS (Q1): $1.39 vs. $0.98 last year. -Analysts Estimate: $1.28 -Revenue (Q1): $5.16 Bln vs. $4.16 Bln last year.

-Guidance: Next quarter EPS guidance: $1.44 - $1.56 Next quarter revenue guidance: $5.19 - $5.59 Bln