Applied Materials Beats Estimates (AMAT)

Applied Materials AMAT released its second quarter earnings results on Tuesday after the closing bell. The company reported net income of $489 million or $0.37 per share, compared to $264 million or $0.20 per share in the year ago period. On a non-GAAP basis, net income was $501 million, or $0.38 per share, compared to $292 million or $0.22 per share, in last year's second quarter. This compared with Wall Street consensus EPS estimates of $0.37. Net sales for the quarter were $2.86 billion, versus $2.30 billion in the year ago period. This beat Wall Street analysts' consensus revenue estimates of $2.77 billion. In the after hours trading session, AMAT shares are down 2.19% to $13.71.