Thursday, August 18, 2016

Applied Materials Profit Tops Street, Outlook Strong; Shares Up 5%

Applied Materials Inc. (AMAT) Thursday reported a jump in profit for the third quarter, as revenues grew 13 percent reflecting growth across all segments. The semiconductor equipment maker's earnings for the quarter trumped Wall Street estimates, but revenues fell short of expectations. The company detailed a strong outlook for the fourth quarter, sending its shares up a near 5 percent in the extended trading hours.

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