Applied Materials reports 39-percent rise in quarterly profit

Applied Materials reports 39-percent rise in quarterly profit

Applied Materials Inc. is one of the biggest suppliers of equipment used to make microchips and they have just come out with their revenue reports.

The company has posted a 39-percent rise in quarterly profit on Tuesday. AM gained from broad-based demand and also improved their profit margins.

The announcement helped the company at the stock market as the share price of AM went up by around 2%.

Applied Materials posted net profits of $512 million in their third fiscal quarter. This was up from $369.6 million, or 23 cents per share, in the same period a year earlier.

The revenues were up at $2.54 billion. This itself is an improvement of around 56% in the same period last year.