Applied Materials Reports Q1 Beat, Provides Strong Guidance 
<p><a href='https://financialmodelingprep.com/financial-summary/AMAT'>Applied Materials (NASDAQ:AMAT)</a> reported its Q1 results on Thursday, with EPS coming in at $2.03, better than the Street estimate of $1.93. Revenue was $6.74 billion, beating the Street estimate of $6.69 billion. The company’s backlog grew again and should help support its revenue, at least through the end of fiscal 2023.</p>
<p>From a segment perspective, the company was particularly bullish on the strength of ICAPS (lagging edge foundry/logic), which more than offset incremental weakness in memory and leading-edge foundry/logic. But even for memory, management suggested that DRAM spending could start to recover by the end of the year.</p>
<p>For Q2/23, the company expects EPS to be in the range of $1.66-$2.02, compared to the Street estimate of $1.75. Revenue is expected in the range of $6-6.8 billion, compared to the Street estimate of $5.86 billion.</p>

NASDAQ:AMAT