AMAT Earnings: Demand Holding Up So Far

Here's our initial take on Applied Materials' (NASDAQ: AMAT) second-quarter financial report.

Semiconductor equipment manufacturer Applied Materials reported second-quarter results that were mixed relative to analyst expectations. Revenue rose by 7% year over year, a bit short of the consensus estimate, while adjusted earnings per share beat expectations and rose by 14%. The company managed to increase its operating margin to 30.7%.

While the global economy is loaded with uncertainty right now, Applied Materials has seen no change to customer behavior so far. Speaking about the current economic and trade environment, Applied Materials CFO Brice Hill said that "... we have not seen significant changes to customer demand and are well-equipped to navigate evolving conditions with our robust global supply chain and diversified manufacturing footprint."

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Source Fool.com