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Applied Materials Inc (NASDAQ:AMAT) reported financial results for the second quarter on Thursday after the market close. Here’s a rundown of the report.
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Applied Materials Q2 Highlights
Applied Materials reported second-quarter revenue of $7.91 billion, beating analyst estimates of $7.65 billion. The chip equipment manufacturer reported adjusted earnings of $2.86 per share for the quarter, beating analyst estimates of $2.66 per share, according to Benzinga Pro.
Total revenue was up 11% year-over-year. Gross margin was 49.9% in the second quarter, or 50% on an adjusted basis. The company generated $845 million in cash from operations and distributed $765 …
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