Applied Materials Reports Earnings: Shares Flat in the After-Hours

Shares of Applied Materials Inc. AMAT are trading flat in the after-hours after the company reported earnings that beat Street estimates. Applied Materials said that Q2 EPS came in at $0.22 on revenue of $2.3 billion. Revenues rose by 24.3% year over year and beat the Street estimate of $2.24 billion. EPS beat consensus by a penny. EPS failed to reach the whisper estimate of $0.23 EPS, however. Q3 guidance was in-line with Street estimates at $0.22-0.26 EPS. Applied Materials said that their Q2 backlog was at $2.99 billion and that cash ended the quarter at $3.57 billion. Q2 cash flow was impressive at $527 million. Shares were flat in the after-hours, currently trading $13.02.