Applied Materials posted slightly higher revenue in the fiscal second quarter and forecast another rise on the top line in the current period, a positive sign for a recently down semiconductor market.
The Santa Clara, Calif.-based semiconductor equipment company reported a profit of $1.72 billion, or $2.06 a share, in the quarter that ended April 28, compared with a profit of $1.58 billion, or $1.86 a share, a year earlier. Analysts polled by FactSet expected a per-share profit of $2.
Stripping out certain one-time items, the company posted an adjusted profit of $2.09 a share, greater than the $1.99 expected by analysts surveyed by FactSet.
Revenue rose from a year earlier to $6.65 billion, beating the $6.54 billion expected by analysts polled by FactSet, which would have represented a slight drop from a year earlier.
A year-on-year drop in revenue from its semiconductor systems segment was offset by higher revenue from applied global services and display and adjacent markets.
Chief Executive Gary Dickerson said the company’s portfolio positioned it to capitalize on long-term trends in AI, electric vehicles and clean energy.
Applied Materials said it expects revenue of $6.65 billion, plus or minus $400 million, in the fiscal third quarter compared with the $6.59 billion expected by analysts.
The company guided for adjusted profit of $1.83 to $2.19 a share in the third quarter. Analysts polled by FactSet are expecting $1.98.