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Applied Materials  (AMAT)  posted better-than-expected results for its latest quarter after the bell on Thursday. 

The chipmaker reported net sales of $3.54 billion, slightly better than analyst estimates of $3.5 billion, according to a FactSet survey of 20 analysts.

Net income came in at $660 million, or 70 cents a share. Analysts had been expecting the company to make 66 cents a share, according to FactSet data.

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In the same period a year, ago the company posted earnings of $1.22 a share on sales of $4.6 billion.

The stock has fallen 1.7% since the company last reported earnings on Feb. 14.

Shares surged 4% in after-hours trading to $43.35. The stock ended the regular session up 16 cents to $41.66.

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