[ad_1]
Stock of applied materials (NASDAQ:AMAT) was sinking at the end of the day on Thursday as the company posted its quarterly results after office hours, in line with analysts' expectations, but its forecasts were disappointing.
The company said that for its fourth fiscal quarter of 2018, it had generated net earnings of $ 876 million, or 89 cents per share. The figure fell by $ 982 million, or 91 cents a share from the same period last year. On an adjusted basis, the company realized gains of 97 cents per share, which corresponds to the 97 cents per share forecast by the Wall Street consensus estimate, according to data compiled by FactSet.
Applied Materials added that its fourth-quarter revenue amounted to $ 4.01 billion, compared to $ 3.99 in the same quarter of the previous year. Analysts have called on the company to generate $ 4 billion in sales, according to data compiled by FactSet.
For the first quarter of the year, analysts expect an adjusted profit of 92 cents per share for a business turnover of $ 3.94 billion. The company expects adjusted earnings of between 75 and 83 cents per share, while the business figure is expected to be between $ 3.56 and $ 3.86 billion.
AMAT action rose nearly 4.3 percent during trading hours on Thursday as the company was preparing to release its latest quarterly results. Its weak first-quarter forecast pushed stocks down about 8% after the day's bell.
Source link
