Applied Materials Up 3.3% After Beating Lowered Estimates

Chip-equipment maker

Applied Materials

(AMAT) - Get Report

was up 3.3% in after-hours

Island

trading after it posted first-quarter earnings of 66 cents a share, excluding items.

The results beat the

First Call/Thomson Financial

estimate of 62 cents and were up from 39 cents a year earlier. Analysts lowered their estimates after the company warned on Jan. 30.