Compared to Estimates, Applied Materials (AMAT) Q1 Earnings: A Look at Key Metrics
For the quarter ended January 2024, Applied Materials (AMAT) reported revenue of $6.71 billion, down 0.5% over the same period last year. EPS came in at $2.13, compared to $2.03 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.47 billion, representing a surprise of +3.62%. The company delivered an EPS surprise of +12.11%, with the consensus EPS estimate being $1.90.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Applied Materials performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Corporate and Other: $78 million versus the three-analyst average estimate of $74.03 million. The reported number represents a year-over-year change of +90.2%.
Net Sales- Semiconductor Systems: $4.91 billion compared to the $4.70 billion average estimate based on three analysts. The reported number represents a change of -4.9% year over year.
Net Sales- Display and Adjacent Markets: $244 million versus the three-analyst average estimate of $234.99 million. The reported number represents a year-over-year change of +46.1%.
Net Sales- Applied Global Services: $1.48 billion versus $1.46 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.8% change.
View all Key Company Metrics for Applied Materials here>>>
Shares of Applied Materials have returned +21.4% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
