SANTA CLARA, Calif. (AP) _ Applied Materials Inc. (AMAT) on Thursday reported fiscal fourth-quarter earnings of $1.13 billion.
The Santa Clara, California-based company said it had net income of $1.23 per share. Earnings, adjusted for non-recurring costs, came to $1.25 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The maker of chipmaking equipment posted revenue of $4.69 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $4.6 billion.
For the year, the company reported profit of $3.62 billion, or $3.92 per share. Revenue was reported as $17.2 billion.
For the current quarter ending in February, Applied Materials expects its per-share earnings to range from $1.20 to $1.32. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.10.
The company said it expects revenue in the range of $4.75 billion to $5.15 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $4.6 billion.
Applied Materials shares have risen 14% since the beginning of the year, while the Standard & Poor's 500 index has increased 9.5%. In the final minutes of trading on Thursday, shares hit $69.80, a rise of 24% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMAT at https://www.zacks.com/ap/AMAT
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