Applied Materials, Inc. (Nasdaq: AMAT) Fiscal Q1 Non-GAAP Earnings Rise, Revenue Declines; Q2 Guidance Set

Applied Materials, Inc. (Nasdaq: AMAT) reported fiscal Q1 non-GAAP earnings late Thursday of $2.13 per diluted share, up from $2.03 a year earlier.

Analysts polled by Capital IQ expected $1.91.

Revenue in the quarter ended Jan. 28 fell to $6.71 billion from $6.74 billion a year earlier. Analysts surveyed by Capital IQ expected $6.49 billion.

In Q2, the company said it expects non-GAAP diluted EPS of $1.79 to $2.15 on revenue of $6.5 billion, plus or minus $400 million. Analysts in a Capital IQ poll expect EPS of $1.78 on revenue of $6.33 billion.

Applied Materials shares climbed 10% in recent after-hours trading.

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