August 16, 2018 / 8:08 PM / a year ago

Applied Materials quarterly revenue jumps 19 pct

Aug 16 (Reuters) - Applied Materials Inc, the world’s largest supplier of equipment used to make chips, reported a 19.3 percent rise in quarterly revenue on Thursday as chipmakers ramped up spending to meet rising demand for memory from smartphone makers.

Net income rose to $1.17 billion, or $1.17 per share, in the third quarter ended July 29, from $925 million, or 85 cents per share, a year earlier.

Net sales rose to $4.47 billion from $3.74 billion. (Reporting by Munsif Vengattil in Bengaluru)

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