Applied Materials reported a profit that matched Wall Street estimates, and gave an outlook that exceeded expectations, sending shares higher in late trading.
Excluding one-time items, the semiconductor firm said it earned 13cents a share in its fiscal first quarter. The company reported a loss of 2 cents a share in the same period last year.
Sales came in at $1.85billion, against a revenue of $1.33 billion last year.
Analysts who follow Applied Materials expected the company to report a profit of 13 cents a share on sales of $1.77 billion.
Applied Materials boosted its fiscal second quarter revenue guidance to between 17 cents a share and 22 cents a share, excluding one-time items. Analysts' earlier consensus was 15 cents a share.
The company's shares rosein extended trading Wednesday.