Applied Materials rises as guidance tops estimates
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Applied Materials (NASDAQ:AMAT) shares rose more than 2% in extended-hours trading on Thursday after the semiconductor capital equipment company reported first-quarter results and guidance that surpassed Wall Street expectations.
Looking to the second-quarter, Applied Materials (AMAT) expects to generate $6.4B in revenue, topping the $6.3B that analysts forecast. Included in that is a $250M impact from one of the company's suppliers cyber event.

For the first-quarter, Applied Materials (AMAT) earned $2.03 per share as revenue rose 7% year-over-year to $6.74B. Analysts were forecasting the company to earn $1.94 per share on $6.69B in revenue. Included in that is $5.16B in revenue related to semiconductor systems.
Competitors KLA Corp. (KLAC), Lam Research (LRCX) and ASML Holding (ASML) were little changed in extended-hours trading.
Applied Materials (AMAT) will hold a conference call at 4:30 p.m. EST to discuss the results.
Earlier this month, Bank of America listed Applied Materials (AMAT) among its top tech, media and telecom stocks for 2023.