NEW YORK (TheStreet) -- Applied Materials (AMAT) - Get Report stock is advancing 3.45% to $17.10 in after-hours trading on Thursday after the company reported 2015 fiscal year financial results that beat estimates. 

The company posted adjusted earnings of $1.19 per diluted share on $9.66 billion in revenue for the year ended October 25, while analysts had forecasted earnings of $1.18 per share on $9.62 billion in revenue.

"In fiscal 2015, Applied Materials delivered year-over-year growth across our semiconductor, display and service businesses resulting in our highest earnings in four years," CEO Gary Dickerson said in a statement.

Additionally, Applied Materials reported earnings of 29 cents per share on revenue of $2.4 billion for the fiscal 2015 fourth quarter, meeting estimates.

Fourth quarter orders were up 7% year-over-year to $2.42 billion, while backlog remained nearly flat at $3.14 billion.

The Santa Clara, CA-based company provides the semiconductor, flat panel display and solar-powered electricity industries with engineering solutions.

Separately, TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and reasonable valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: AMAT

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