Semiconductor tools vendor Utilized Supplies (AMAT) late Thursday beat estimates for its fiscal second quarter and guided above views for the present interval. However AMAT inventory fell in prolonged buying and selling.
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The Santa Clara, Calif.-based firm earned an adjusted $2.09 a share on gross sales of $6.65 billion within the quarter ended April 28. Analysts polled by FactSet had anticipated earnings of $1.99 a share on gross sales of $6.54 billion. Within the year-earlier interval, Utilized Supplies earned an adjusted $2 a share on gross sales of $6.63 billion.
For the present quarter, Utilized Supplies expects to earn an adjusted $2.01 a share on gross sales of $6.65 billion. That is primarily based on the midpoint of its steerage. Wall Road was modeling earnings of $1.98 a share on gross sales of $6.59 billion within the fiscal third quarter. Within the year-earlier interval, Utilized Supplies earned an adjusted $1.90 a share on gross sales of $6.43 billion.
In after-hours buying and selling on the inventory market at this time, AMAT inventory retreated 1.5% to 210.90. Through the common session Thursday, AMAT inventory sank 1.5% to shut at 214.17.
On Wednesday, AMAT inventory broke out of a flat base at a purchase level of 214.91, based on IBD MarketSurge charts.
Additional, Utilized Supplies is on the IBD Tech Leaders record.
Earnings report particulars to comply with.
Observe Patrick Seitz on X, previously Twitter, at @IBD_PSeitz for extra tales on client expertise, software program and semiconductor shares.
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