Applied Materials, Inc. (NASDAQ:AMAT) is expected to report a slight year-over-year decline in both its sales and profits for the fourth quarter but full-year growth across both metrics when it hands down its 4Q and fiscal 2023 results after the stock market close on Thursday, November 16.
Shares of the company, which provides equipment, services, and software for the semiconductor and display sectors, traded higher ahead of its results, adding 5.3% at US$150.80 on Friday afternoon.
The stock is up 55.9% in the year to date.
Applied Materials expects to post 4Q sales of $6.51 billion, plus or minus $400 million, down from $6.75 billion in the year-ago quarter.
Adjusted earnings per share (EPS) in the range of $1.82 to $2.18, compared to adjusted EPS of $2.03 in 4Q 2022.
Wall Street analysts forecast results in line with Applied Materials’ guidance, expecting EPS of $1.98 on revenue of $6.52.
For full-year fiscal 2023, analysts expect EPS of $7.90 on revenue of $26.32 billion.
This represents increases of 2.6% and 2.1% respectively over EPS of $7.70 and revenue of $25.8 billion for fiscal 2022.
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