Updated from 4:49 p.m. ET to include latest share prices, additional information on Baidu, Qlik Technologies.
NEW YORK ( TheStreet) -- Shares of Applied Materials (AMAT) rose in late trades on Thursday after the maker of semiconductor capital equipment handily beat Wall Street earnings expectations in its latest quarter and gave an above-consensus outlook.
The Santa Clara, Calif.-based company attributed the strong results to chip maker investments driven by heavy demand for mobile devices.
For its fiscal first quarter ended in January, Applied Materials reported non-GAAP earnings of $240 million, or 18 cents a share, on sales of $2.19 billion, above the average estimate of analysts polled by
Thomson Reuters for a profit of 12 cents a share on revenue of $1.97 billion.
SunPowerSunPower (SPWR) was also a bright spot in the extended session after reporting a surprise profit in its fiscal fourth quarter. The San Jose, Calif.-based solar products company posted non-GAAP operating income of $6.8 million, or 16 cents a share, in the December-ended quarter, beating the average estimate of analysts polled by Thomson Reuters for a loss of 5 cents a share.
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