Applied Materials earnings, outlook top Wall Street expectations, and stock rises

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Applied Materials' stock rose after hours Thursday as both earnings and outlook for the maker of semiconductor-manufacturing equipment topped Wall Street...

Applied Materials Inc. shares rose in the extended session Thursday after both earnings and outlook for the maker of semiconductor-manufacturing equipment topped Wall Street expectations.

Applied Materials reported net income of $1.56 billion, or $1.85 a share, for the fiscal third quarter, compared with $1.61 billion, or $1.85 a share, in the year-ago period. Adjusted earnings, which excluded the effects of share-based compensation and other items, were $1.90 a share, compared with $1.94 a share in the year-ago period. Revenue declined to $6.43 billion from $6.52 billion in the year-ago quarter.

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