February 14, 2019 / 9:10 PM / 8 months ago

Applied Materials quarterly revenue falls 10 pct

Feb 14 (Reuters) - Chip gear maker Applied Materials Inc reported a 10.7 percent fall in quarterly revenue on Thursday, hit by slowing memory demand from smartphone makers.

Net sales fell to $3.75 billion from $4.21 billion.

The company’s net income rose to $771 million, or 80 cents per share, in the first quarter ended Jan. 27, from $165 million, or 15 cents per share, a year earlier. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by Shounak Dasgupta)

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