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 - Get Report) 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 - Get Report) 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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