Gary Dickerson, chief executive officer of Applied Materials Inc.
Bloomberg Bloomberg via Getty Images

Big gain for the maker of semiconductor tools.

By Reuters
August 18, 2016

(Reuters) – Applied Materials, the world’s largest supplier of tools used to make semiconductors, reported a 13.3% rise in revenue, buoyed by demand from memory and smartphone chipmakers.

The company’s net income rose to $505 million, or 46 cents per share, in the third quarter ended July 31, from $329 million, or 27 cents per share, a year earlier.

Net sales rose to $2.82 billion from $2.49 billion.

Shares in Applied Materials amat rose 5.78% in after hours trading on Thursday.

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