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Benzinga
Benzinga
Business
Vandana Singh

Applied Materials Stock Tanks On Weak Outlook, China Headwinds

Applied Materials China AMAT
Santa,Clara,,California,-,April,26,,2018:,Applied,Materials,Offices

Applied Materials Inc. (NASDAQ:AMAT) stock is plunging on Friday after the company reported financial results for the third quarter after market close on Thursday.

The chip equipment manufacturer reported third-quarter revenue of $7.3 billion, beating analyst estimates of $7.22 billion, with adjusted earnings of $2.48 per share, beating analyst estimates of $2.36 per share.

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