Applied Materials, the largest U.S. maker of chipmaking equipment, reported record quarterly revenue of $10.41 billion on Thursday, up 53% from a year earlier, for its fiscal fourth quarter ended Oct. 25. Adjusted earnings were $4.16 a share, up 92%, compared with analysts’ forecast of $4.06, as reported by Investing.com. Revenue topped the $10.3 billion analysts expected.
For the current quarter, the company forecast revenue of $11.1 billion, plus or minus $500 million, and adjusted earnings of $4.35 a share, plus or minus 20 cents. Analysts had expected about $10.84 billion and $4.25 a share, according to Investing.com.
“AI continues to fuel strong incremental demand for semiconductors,” Chief Executive Gary Dickerson said in the company’s results release. Applied bought back $2 billion of its shares in the quarter. For the full fiscal year, revenue rose 21% to a record $34.45 billion.
The shares closed down 3.6% at $380.95 in regular trading on Thursday, before the results came out. They rose about 0.7% to $383.58 in late after-hours trading, as of 7:59 p.m. Eastern time.
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