Applied Materials Shares Rise On Earnings Beat, Strong Outlook

By Wallace Witkowski Markets MarketWatch Pulse

Applied Materials Inc. shares rose in the extended session Thursday after the microchip-materials maker's quarterly results and outlook topped Wall Street estimates. Applied Materials shares rose 2.9% to $45.20 after hours. The company reported adjusted fiscal second-quarter earnings of 79 cents a share on revenue of $3.55 billion. Analysts surveyed by FactSet had estimated earnings of 76 cents a share on revenue of $3.53 billion. For the fiscal third quarter, Applied Materials expects adjusted earnings of 79 cents to 87 cents a share on revenue of $3.6 billion to $3.75 billion. Analysts had estimated 68 cents a share on revenue of $3.41 billion.

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