(Boursier.com) — The US leader in equipment for the production of semiconductors released Thursday evening solid results, but slightly below market expectations, citing supply chain problems. On Wall Street, the title Applied Materials fell more than 8% in session on Friday, before reducing its losses to 3.8% at the close, at $ 106.46, in reaction to this publication. The price of “AMAT” has now lost more than 32% since the start of the year, victim of the correction in technology stocks.
After a record first fiscal quarter, the group, based in Santa Clara, California, was caught up in the second fiscal quarter by shortages of components linked in particular to China’s “zero covid” policy. Net profit rose to $1.54 billion from $1.33 billion a year earlier (+15.8%), and the Earnings per share were $1.85, but analyst consensus was for $1.9.
More demand than ever, but…
Quarterly revenue rose 12% year-on-year to $6.25 billion, while Refinitiv analysts were expecting $6.38 billion.
For the current quarter, “AMAT” also reported forecasts of profits and sales below expectations. The Director General, Gary Dickerson said demand “has never been greater” but the group was “limited by recurring supply chain issues”.