Applied Materials reports Q1 EPS $2.38, consensus $2.21

Reports Q1 revenue $7.01B, consensus $6.88B. “Applied Materials (AMAT) delivered strong results in our fiscal first quarter, fueled by the acceleration of industry investments in AI computing,” said Gary Dickerson, President and CEO. “The need for higher performance and more energy-efficient chips is driving high growth rates for leading-edge logic, high-bandwidth memory and advanced packaging. These are areas where Applied is the process equipment leader, and we expect to grow our semiconductor equipment business over 20 percent this calendar year.”