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Applied Materials Inc. Q1 adjusted earnings Beat Estimates

Applied Materials Inc. (AMAT) revealed a profit for its first quarter that rose from the same period last year.

The company's bottom line totaled $892 million, or $0.96 per share. This compares with $771 million, or $0.80 per share, in last year's first quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $904 million or $0.98 per share for the period.

Analysts had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.9% to $4.16 billion from $3.75 billion last year.

Applied Materials Inc. earnings at a glance:

-Earnings (Q1): $904 Mln. vs. $779 Mln. last year.
-EPS (Q1): $0.98 vs. $0.81 last year.
-Analysts Estimate: $0.93
-Revenue (Q1): $4.16 Bln vs. $3.75 Bln last year.

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