Applied Materials Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Applied Materials Inc. (AMAT) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.58 billion, or $1.86 per share. This compares with $1.54 billion, or $1.74 per share, in last year's second quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.69 billion or $2.00 per share for the period.

Analysts on average had expected the company to earn $1.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $6.63 billion from $6.25 billion last year.

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

-Earnings (Q2): $1.58 Bln. vs. $1.54 Bln. last year. -EPS (Q2): $1.86 vs. $1.74 last year. -Analyst Estimate: $1.84 -Revenue (Q2): $6.63 Bln vs. $6.25 Bln last year.

-Guidance: Next quarter EPS guidance: $1.56 to $1.92 Next quarter revenue guidance: $5.75 - 6.55 Bln