By Davit Kirakosyan

Applied Materials shares traded around 4% lower in the hours after company reports. EPS was $1.85, which is less than the consensus estimate at $1.90. Comparable to the $6.37 million consensus estimate, revenue grew by 12% to $6.25billion.

“Demand for Applied Materials’ products and services has never been stronger, yet we remain constrained by on-going supply chain issues,” said Gary Dickerson, President and CEO. “Our priority is to work quickly and creatively across the supply chain to bring more industry capacity on-line, while accelerating the technology inflections that we believe will enable Applied to outgrow the semiconductor market in the years ahead.”

Company provided Q3/22 outlook. It expected EPS of between $1.59 and $1.95, as opposed to consensus estimates of $2.04. The revenue estimate was $6.25 Billion, which is lower than the consensus figure of $6.73B.

The shares of Applied Materials dropped 30% in the year to date.