Applied Materials Posts Strong Earnings Beat, Sees AI Momentum
- Applied Materials delivered upbeat results and guidance for the quarter
- Logged fiscal-first quarter net income of $2.02 billion, or $2.41 a share
- Net income increased compared to $1.72 billion, or $2.02 a share a year prior
- Saw surging stock price in extended session following earnings beat
- Company seeing momentum in AI technology