Semiconductor equipment company Applied Materials Inc (NASDAQ: AMAT) is scheduled to publish third-quarter 2023 results today after the closing bell.
It is widely expected that the tech firm would report earnings of $1.74 per share for the July quarter, excluding special items. That would be lower than the $1.94/share profit it generated a year ago. Analysts are looking for third-quarter revenues of $6.16 billion, which represents a 5.5% year-over-year decline.
In the second quarter, the company’s adjusted earnings rose to $2.00 per share from $1.85 per share in Q2 2022. Net income, including special items, was $1.58 billion or $1.86 per share in the April quarter, compared to $1.54 billion or $1.74 per share last year.
There was a 6% increase in net sales to $6.63 billion in the second quarter, mainly reflecting continued strong performance by the core Semiconductor Systems segment.
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