APPLIED Materials Inc reported better-than-expected quarterly results and gave a strong current-quarter forecast as the world’s largest supplier of tools to make semiconductors enjoys strong demand in its chip and display businesses. The Santa Clara, California-based company forecast current-quarter adjusted earnings per share of 94 cents to US$1.02 and net sales of US$4.00 billion to US$4.20 billion. The company said its net income rose 61 per cent to US$982 million in the fourth quarter. Total net sales rose 20.4 per cent to US$3.97 billion. Revenue from its semiconductor business, the company’s largest, rose 14.3 per cent to US$2.43 billion, topping analysts’ estimate of US$2.13 billion.

Source: New Strait Times November 16, 2017 23:48 UTC