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Investing.com — Applied Materials (NASDAQ:AMAT) reported on Thursday second-quarter earnings that missed analysts’ forecasts and revenue that fell short of expectations.
Applied Materials announced earnings per share of $1.85 on revenue of $6.25B. Analysts polled by Investing.com anticipated EPS of $1.9 on revenue of $6.35B. Revenue rose 12% year-over-year.
Applied Materials shares lost 4.87% in after-hours trade following the report.
The company said that while demand is strong, it is currently constrained by ongoing supply chain issues.
“Our priority is to work quickly and creatively across the supply chain to bring more industry capacity on-line, while accelerating the technology inflections that we believe will enable Applied to outgrow the semiconductor market in the years ahead,” said Gary Dickerson, President and CEO of Applied Materials.
In the third quarter of fiscal 2022, the company expects net sales to be approximately $6.25 billion, plus or minus $400 million, which they said includes the expected impact of ongoing supply chain challenges. Adjusted earnings is expected to be between $1.59 to $1.95 per share.
