Applied Materials Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - Applied Materials, Inc. (AMAT) reported that its third-quarter net income increased year-over-year to $301 million or $0.24 per share from $168 million or $0.14 per share. Non-GAAP adjusted net income was $349 million or $0.28 per share, for the quarter.

On average, 19 analysts polled by Thomson Reuters expected the company to reort profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.27 billion, compared to $1.98 billion, a year ago. Analysts expected revenue of $2.29 billion for the quarter. Applied generated orders of $2.48 billion, up 24 percent year over year.

For the fourth quarter, Applied expects net sales to be approximately flat, plus or minus three percent as compared to the previous quarter, and up by approximately 10 percent to 17 percent from the year-ago period. Non-GAAP adjusted earnings per share is expected to be in the range of $0.25 to $0.29, which would be up by approximately 32 percent to 53 percent year over year. Analysts expect the company to report fourth-quarter earnings per share of $0.26.