Chip equipment supplier Applied Materials (AMAT) this afternoon reported fiscal Q1 revenue and profit well ahead of consensus and forecast this quarter’s profit above expectations as well.
Revenue in the three months ended in January rose to $2.19 billion, yielding EPS of 18 cents.
Analysts had been modeling $1.97 billion and 12 cents a share.
CEO Mike Splinter remarked that “Global demand for mobile�devices is driving a third consecutive year of strong capital investment by�semiconductor customers.
“As a result, we see solid order momentum�and an improved outlook overall for our second quarter.”
The company’s orders for chip equipment rose 53% to $1.42 billion, “relecting increased demand in foundry” but also the addition of Varian Semiconductor Equipment Associates last November.
For the current quarter, the company sees EPS of 20 cents to 28 cents versus the average 16-cent estimate.
Applied shares are up 54 cents, or 4%,� at $13.75 in late trading.
Fin.
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