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Applied Materials Q3 results beat street

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Christian Fernsby |
Applied Materials
Applied Materials   Third quarter profit dropped to $571 million

Chip equipment maker Applied Materials Inc. Thursday reported third-quarter earnings and revenues that were above Wall Street expectations.

Topics: Applied Materials

Santa Clara, California-based Applied Materials' third quarter profit dropped to $571 million or $0.61 per share from $1.02 billion or $1.01 per share last year.

On an adjusted basis, earnings for the quarter dropped to $0.74 per share from $1.04 per share last year.

Sales for the third quarter dropped 14% to $3.56 billion from $4.16 billion last year.

Analysts polled by Thomson Reuters estimate earnings of $0.70 per share and revenues of $3.52 billion for the quarter.

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