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Applied Materials profit misses consensus by 25.5% in fiscal Q2

Applied Materials, Inc. said its normalized net income for the fiscal second quarter ended April 26 came to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS declined year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $256.3 million, a decline from $260.0 million in the year-earlier period.

The normalized profit margin declined to 10.5% from 11.0% in the year-earlier period.

Total revenue grew year over year to $2.44 billion from $2.35 billion, and total operating expenses increased 4.9% on an annual basis to $2.01 billion from $1.92 billion.

Reported net income grew 39.4% on an annual basis to $359.9 million, or 29 cents per share, from $258.1 million, or 21 cents per share.