Applied Materials Inc. Q3 Profit Decreases, but beats estimates

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

The company's bottom line totaled $1.61 billion, or $1.85 per share. This compares with $1.72 billion, or $1.87 per share, in last year's third quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.68 billion or $1.94 per share for the period.

Analysts on average had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $6.52 billion from $6.20 billion last year.

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

-Earnings (Q3): $1.61 Bln. vs. $1.72 Bln. last year. -EPS (Q3): $1.85 vs. $1.87 last year. -Analyst Estimates: $1.79 -Revenue (Q3): $6.52 Bln vs. $6.20 Bln last year.

-Guidance: Next quarter EPS guidance: $1.82 to $2.18 Next quarter revenue guidance: $6.250 - $7.05 Bln