Stock Futures – Utilized Supplies stock rises on robust earnings, outlook
Utilized Supplies Inc.
AMAT,
shares rose within the prolonged session Thursday after the chip-maker provider’s quarterly outcomes and outlook topped Wall Street estimates.
Utilized Supplies reported fiscal fourth-quarter web earnings of $1.31 billion, or $1.23 a share, in contrast with $698 million, or 75 cents a share, within the year-ago interval. Adjusted earnings, which exclude the earnings tax impact of stock-based compensation and different gadgets, had been $1.25 a share, in contrast with 80 cents a share within the year-ago quarter.
Income rose to $4.69 billion from $3.75 billion within the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.17 a share on income of $4.6 billion, following Utilized Supplies outlook of $1.11 to $1.23 a share on income of $4.Four billion to $4.eight billion.
“Applied Materials closed fiscal 2020 with record quarterly performance as demand for our semiconductor systems and services remains very strong,” stated Gary Dickerson, Utilized Supplies president and chief govt, in a press release. “Our future opportunities have never looked better and, as powerful technology trends take shape, we are uniquely positioned to accelerate our customers’ roadmaps and outperform our markets.”
Utilized Supplies expects fiscal first quarter earnings of $1.20 to $1.32 a share on income of $4.75 billion to $5.15 billion. Analysts had forecast earnings of $1.11 a share on income of $4.51 billion for the quarter.
Shares rose 3% after hours, following a 1.9% decline within the common session to shut at $69.80. For the 12 months, shares of Utilized Supplies are up 14%, in contrast with a 9% rise within the S&P 500 index
SPX,
and a 30% achieve by the tech-heavy Nasdaq Composite Index
COMP,
Stock Futures – Utilized Supplies stock rises on robust earnings, outlook
