(Boursier.com) — Applied Materials fell slightly in pre-session on Wall Street. The semiconductor equipment maker expects third-quarter revenue to beat market estimates thanks to robust demand fueled by a boom in artificial intelligence. During the three months ended April 28, the Californian firm reported net profit up 8.9% to $1.72 billion, or EPS of $2.09 versus $1.99 expected. by analysts. Gross margin improved from 46.7% to 47.4% while operating margin remained unchanged at 28.8%. Revenues stagnated for the second consecutive quarter, at $6.65 billion.
For the third quarter of 2024, Applied expects another period of low to no revenue growth. Management anticipates net sales of approximately $6.65 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be between $1.83 and $2.19. The consensus is for EPS of $1.98 for revenues of $6.59 billion.
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