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Applied Materials revenue rises 14.7 percent

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(Globalpost/GlobalPost)

(Reuters) - Chip-equipment maker Applied Materials Inc reported a 14.7 percent rise in quarterly revenue as contract chip manufacturers spend more on technology used to make smartphone and memory chips.

Revenue rose to $2.27 billion in the third quarter ended July 27 from $1.98 billion a year earlier.

Net income rose to $301 million, or 24 cents per share, from $168 million, or 14 cents per share.

Applied Materials supplies chip-making gear to companies such as Samsung Electronics Co Ltd and Taiwan Semiconductor Manufacturing Co Ltd.

(Reporting By Lehar Maan in Bangalore; Editing by Maju Samuel)

http://www.globalpost.com/dispatch/news/thomson-reuters/140814/applied-materials-revenue-rises-147-percent