February 12, 2020 / 9:09 PM / 15 days ago

Applied Materials forecasts current quarter revenue, profit above estimates

Feb 12 (Reuters) - Chip gear maker Applied Materials Inc forecast second-quarter revenue and profit above Wall Street estimates on Wednesday, as clients upgraded their semiconductor equipment ahead of a global 5G roll out.

For the current-quarter, the company expects revenue of $4.34 billion, plus or minus $200 million, above analysts’ expectations of $4.05 billion, according to IBES data from Refinitiv.

The company expects adjusted profit to be in the range of 98 cents per share to $1.10 per share, higher than analysts’ estimates of 92 cents. (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)

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