Applied Materials (AMAT) Q1 Earnings Beat, Sales Dip Y/Y

Applied Materials Inc. (AMAT) reported first-quarter fiscal 2024 non-GAAP earnings of $2.13 per share, surpassing the Zacks Consensus Estimate by 12.1%. Moreover, the figure improved 5% from the year-ago quarter’s reported number.Net sales of $6.71 billion were down 0.5% from the year-ago quarter’s reported level. The figure surpassed the Zacks Consensus Estimate of $6.47 billion.Softness in the Semiconductor Systems segment remained a headwind.Weakening momentum across Taiwan, Southeast Asia, the United St ...