Applied Materials Inc (NASDAQ:AMAT) reported fiscal fourth-quarter financial results after the close on Thursday. Here's a rundown of the report and a look at what's driving shares lower after hours.
Q4 Earnings: Applied Materials said fourth-quarter revenue was flat year-over-year at $6.72 billion, which beat the consensus estimate of $6.52 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.12 per share, which beat analyst estimates of $2 per share.
Shares are reacting to the company's quarterly print, but additional selling pressure appears to be due to a Reuters report indicating the chip equipment maker is under U.S. criminal investigation for potentially evading export restrictions on China's SMIC.
