EARNINGS-Applied Materials beats quarterly revenue estimates
Nov 14 (Reuters) - Applied Materials AMAT.O topped Wall Street estimates for fourth-quarter revenue on Thursday, as the chip gear maker's semiconductor business benefited from higher demand for processor chips, sending shares up 4% in extended trading.
Revenue fell 0.1% to $3.75 billion for the quarter ended Oct. 27, but beat analysts' estimates of $3.68 billion, according to IBES data from Refinitiv.
Net income fell to $698 million, or 75 cents per share, from $757 million, or 77 cents per share, a year ago.
(Reporting by Ayanti Bera in Bengaluru; Editing by Amy Caren Daniel)
((Ayanti.Bera@thomsonreuters.com; within U.S.+1 646 223 8780, outside U.S. +91 80 6749 0341;))