Applied Materials Beats on Top and Bottom Lines

Shares of Applied Materials

are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 1.76%, trading at $12.25; they ended the regular session lower by 1.34%, at $12.47. Applied Materials reported Q4 EPS of $0.21 on revenues of $2.18 billion; the Street was looking for $0.20 per share on revenues of $2.15 billion. Revenues decreased 24.4% year over year. The company sees Q1 EPS in the range of $0.08-0.16 per share; the Street was at $0.18 per share. Revenues are expected to come in -5 to -15% quarter over quarter. Applied Materials, Inc. provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic and related industries.