Applied Materials Shares Rise On Earnings Beat, Outlook

Applied Materials Inc. shares rose in the extended session Thursday after the maker of equipment for the semiconductor industry topped Wall Street estimates in both quarterly results and outlook. Applied Materials shares advanced 4.6% to $20.75 on heavy volume. The company reported adjusted fiscal second-quarter earnings of 34 cents a share on revenue of $2.45 billion. Analysts surveyed by FactSet estimated 32 cents a share on revenue of $2.43 billion. Applied Materials sees adjusted third-quarter earnings of 46 cents to 50 cents a share, while analysts had forecast 36 cents a share.