=Applied Materials (AMAT) reported earnings on Thur 5/19/16 (a/h)

Applied Materials beats by $0.02, reports revs in-line; guides Q3 well above consensus :

• Reports Q2 (Apr) earnings of $0.34 per share, excluding non-recurring items, $0.02 better thanthe Capital IQ Consensus of $0.32; revenues rose 0.3% year/year to $2.45 bln vs the $2.43 bln Capital IQ Consensus.
• Co issues upside guidance for Q3, sees EPS of $0.46-0.50, excluding non-recurring items, vs. $0.36 Capital IQ Consensus Estimate; sees Q3 revs of +14-18% QoQ to ~$2.79-2.89 bln vs. $2.51 bln Capital IQ Consensus Estimate. 
• Second quarter orders were $3.45 billion, up 52 percent sequentially and up 37 percent year over year. Backlog increased 34% to $4.17 billion