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Applied Materials Q3 Earnings Top Estimates Guides Higher

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Applied Materials Q3 Earnings Top Estimates, Guides Higher

Robust Demand for Semiconductor Equipment Drives Results

Key Financial Highlights:

* Beat Zacks Consensus Estimate with earnings of $2.12 per share * Non-GAAP earnings: $1.94 per share, exceeding estimates * Revenue: $6.74 billion, a 10% year-over-year increase

Applied Materials (AMAT) reported strong financial results for its fiscal third quarter, driven by continued high demand for semiconductor equipment.

The company's revenue growth was fueled by increasing investments in semiconductor manufacturing, particularly in advanced logic and memory technologies.

Applied Materials' CEO, Gary Dickerson, attributed the company's success to its "execution and innovation."

Guidance:

* Q4 revenue guidance: $6.35 billion to $6.65 billion, slightly higher than analyst estimates * Non-GAAP EPS guidance: $1.76 to $1.86 per share * Fiscal 2022 revenue growth guidance: 14% to 16%

The company's positive outlook reflects continued strong demand for its products, particularly from the semiconductor industry.

Analysts' Comments:

* "Applied Materials' results demonstrate the ongoing strength of the semiconductor market," said KeyBanc analyst Weston Twigg. * "The company's guidance suggests that the momentum is expected to continue," added Evercore ISI analyst C.J. Muse.

Overall, Applied Materials' Q3 results and guidance indicate a robust semiconductor equipment market and position the company well for continued growth.

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