Applied Materials stock jumps after earnings beat; AMAT rallies in after-hours as AI demand drives outlook
Applied Materials shares surged 13.3% to $371.97 in after-hours trading after beating quarterly estimates and issuing a strong forecast. The company reported $7.01 billion in revenue and adjusted earnings of $2.38 per share for the quarter ended Jan. 25. Applied agreed to pay $252.5 million to settle U.S. export-control violations related to shipments to China. Justice and SEC probes were closed without further action.