.August 16, 2024 Friday 07:00 PM

Applied Materials Inc. (NASDAQ:AMAT) reported strong fiscal third-quarter results, exceeding analyst expectations with adjusted EPS of $2.05 and revenue of $6.78 billion. The company saw a boost in revenue driven by increased demand for DRAM products, with sales in China reaching $2.15 billion. Despite challenges with U.S. export restrictions, Applied Materials remains optimistic for the upcoming quarter, forecasting diluted EPS between $2.00 and $2.36 and revenue of $6.93 billion. This outlook aligns with market expectations of adjusted EPS of $2.14 on revenue of $6.92 billion.