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

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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