Changes in US stocks | Q3 earnings report completely exceeded expectations but it was difficult to fill the market's “appetite” Applied Materials (AMAT.US) fell nearly 6% in early trading

The Zhitong Finance App learned that on Friday, Applied Materials (AMAT.US) fell nearly 6% in early trading and is now reported at $503.94. According to the news, Applied Materials handed over strong third-quarter results and gave fourth-quarter guidance that was higher than market expectations. However, against the backdrop of a sharp rise in stock prices this year and market expectations for AI capital expenditure already at a high level, this “exceeding expectations” financial report was not recognized by the market.

Applied Materials' revenue for the third fiscal quarter was US$9.115 billion, higher than the forecast of US$9 billion, a record high; GAAP net profit of US$2,538 billion, up 43% year over year, and adjusted earnings per share of US$3.50, exceeding expectations of US$3.42, an increase of 41% year over year, also a record. The company expects revenue for the fourth fiscal quarter to be approximately US$10.25 billion, which is about 7% higher than analysts' average expectations. Adjusted earnings per share of $4.02 were well above market expectations of $3.72.