Applied Materials Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Applied Materials Inc. (AMAT) announced a profit for its third quarter that increased from last year.

The company's earnings came in at $1.72 billion, or $1.87 per share. This compares with $0.84 billion, or $0.91 per share, in last year's third quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.74 billion or $1.90 per share for the period.

Analysts had expected the company to earn $1.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 40.9% to $6.20 billion from $4.40 billion last year.

Applied Materials Inc. earnings at a glance:

-Earnings (Q3): $1.74 Bln. vs. $0.98 Bln. last year. -EPS (Q3): $1.90 vs. $1.06 last year. -Analysts Estimate: $1.77 -Revenue (Q3): $6.20 Bln vs. $4.40 Bln last year.