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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV