Amat delivers upbeat earnings guidance after fiscal Q3 results top estimates

Investing.com -- Applied Materials reported upbeat earnings guidance for the current quarter Thursday after fiscal third-quarter results topped Wall Street estimates.

Applied Materials Inc (NASDAQ AMAT) (NASDAQ:AMAT) fell more than 1% in afterhours following the news.

Fro three months ended Jul. 28, the chip maker reported adjusted diluted earnings per share of $2.05, up from $1.85 from the prior year, while revenue rose to $6.78 billion from $6.43B. That was ahead of analyst expectations for EPS of $2.02 on revenue of $6.54B.

Looking ahead to fiscal Q4, the company sees non-GAAP diluted EPS in the range of $2.00 to $2.36, or $2.18 at the midpoint, on revenue of $6.93B, plus or minus $400M. That compared with estimates for adjusted EPS of $2.14 on revenue of $6.92B.