Applied Materials revenue rises 9.9 percent

(Reuters) - Applied Materials Inc (NASDAQ: AMAT) reported a 9.9 percent rise in quarterly revenue as chipmakers spent more on technology used to make smartphones and memory chips.

Net income rose to $329 million, or 27 cents per share, in the third quarter ended July 26, from $301 million, or 24 cents per share, a year earlier.

Net sales rose to $2.49 billion from $2.27 billion.

(Reporting By Arathy S Nair and Kshitiz Goliya in Bengaluru; Editing by Don Sebastian)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Erste Group Downgrades Applied Materials (AMAT) to Hold
• Hawaii Democratic incumbent fends off left-wing challenger in congressional primary
• British Columbia to get federal assistance as wildfire forces evacuations