Applied Materials Shares Rise 6% on Strong Sales
(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.