Earnings: Applied Materials (AMAT) Q2 profit, revenue increase

Semiconductor technology company Applied Materials, Inc. (NASDAQ: AMAT) on Thursday reported higher earnings and revenues for the second quarter of 2022. However, the results missed analysts’ estimates.

Adjusted net income increased to $1.85 per share in the second quarter from $1.63 per share in the same period of 2021. The latest number missed consensus estimates. Net income, including special items, was $1.54 billion or $1.74 per share in the April quarter, compared to $1.33 billion or $1.43 per share last year.

Check this space to read management/analysts’ comments on Applied Materials’ Q2 earnings

The positive bottom-line performance reflects a 12% increase in revenues to $6.25 billion, with the core Semiconductor Systems segment accounting for nearly three-fourths of total sales. Analysts were looking for faster top-line growth.