Applied Mat Q1 2024 Adj EPS $2.13 Beats $1.91 Estimate, Sales $6.71B Beat $6.48B Estimate
Portfolio Pulse from Benzinga Newsdesk
Applied Materials (AMAT) reported Q1 2024 adjusted EPS of $2.13, surpassing the $1.91 estimate, with sales of $6.71B also beating the $6.48B estimate. However, this represents a slight 0.47% decrease in sales compared to the same period last year.
February 15, 2024 | 9:01 pm
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POSITIVE IMPACT
Applied Materials reported a strong Q1 2024 performance with EPS and sales beating estimates, despite a minor year-over-year sales decline.
Beating both EPS and sales estimates typically generates positive investor sentiment, likely leading to a short-term stock price increase. The slight year-over-year sales decrease is noted but is overshadowed by the earnings beat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100