5 Quarterly Reports Grabbing Everyone’s Attention

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1. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 78

Shares of Applied Materials, Inc. (NASDAQ:AMAT) slipped nearly one percent in the pre-market trading session on Friday, May 20, 2022, after missing financial expectations for its fiscal second quarter and issuing a weak outlook for the current quarter.

Applied Materials, Inc. (NASDAQ:AMAT) earned $1.85 per share on an adjusted basis, compared to $1.63 per share in the same period of 2021. Revenue for the quarter increased to $6.25 billion versus $5.58 billion in the comparable period of the prior year. The results fell short of the consensus of $1.90 per share for earnings and $6.37 billion for revenue.

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For its fiscal third quarter, Applied Materials, Inc. (NASDAQ:AMAT) projected adjusted earnings in the range of $1.59 – $1.95 per share and revenue between $5.85 – $6.65 billion. However, analysts were looking for earnings of $2.04 per share on revenue of $6.73 billion.

Commenting on the quarter, CEO Gary Dickerson said:

“Demand for Applied Materials’ products and services has never been stronger, yet we remain constrained by on-going supply chain issues. Our priority is to work quickly and creatively across the supply chain to bring more industry capacity on-line, while accelerating the technology inflections that we believe will enable Applied to outgrow the semiconductor market in the years ahead.”

You can also take a peek at Analysts Are Recommending These 10 Dividend Stocks and 10 Favorite Stocks of Dan Loeb’s Third Point.

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