Applied Materials slips despite Q2 results topping expectations
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Applied Materials (NASDAQ:AMAT) shares slipped around 1% in extended-hours trading on Thursday even as the semiconductor equipment company posted quarterly results that beat expectations.
For the period ending April 30, Applied Materials (AMAT) said it $2 per share as revenue rose to $6.63B. A consensus of analysts expected Applied Materials (AMAT) to earn $1.83 per share on $6.37B in revenue.
In addition, Applied Materials (AMAT) said it generated $2.29B in cash from operations during the period and returned $1.02B to shareholders, including $800M in buybacks. 
Looking ahead, Applied Materials (AMAT) is forecasting third-quarter earnings to fall within a range of $1.56 and $1.92 per share, while sales are expected to be within a range of $5.75B to $6.55B.
Analysts were forecasting earnings of $1.64 per share and $6.05B in revenue for the coming quarter.
"Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied," Gary Dickerson, President and CEO said in a statement.
The company will host a conference call at 4:30 p.m. ET to discuss the results.
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