By Maria Armental

Applied Materials Inc. reported record quarterly revenue and adjusted per-share profit, beating Wall Street targets, pointing to sustained demand and the pandemic-boosted digital transformation.

Second-quarter profit rose to $1.33 billion from $755 million a year earlier. On a per-share basis, profit was $1.43, or $1.63 as adjusted. Applied had projected an adjusted profit of $1.44 to $1.56 a share, while analysts surveyed by FactSet expected a profit of $1.49 a share, or $1.51 as adjusted.

Net sales rose to $5.58 billion from $3.96 billion a year earlier. Applied had projected $5.19 billion to $5.59 billion, while analysts expected about $5.41 billion.

The chip-making equipment manufacturer has benefited from chip demand during the coronavirus pandemic, and company officials have said that they see more room for growth, including in rebounding specialty markets like automotive.

"Applied Materials' record performance is underpinned by broad-based strength across our semiconductor businesses," Chief Executive Gary Dickerson said in a statement. "We are confident in our ability to outperform our markets as large, secular trends create sustainable demand for semiconductors and our leadership in materials engineering becomes increasingly critical to deliver new chip technologies."

Applied Materials shares rose 0.8% to $131.41 in after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

05-20-21 1625ET