November 15, 2012 / 9:20 PM / 5 years ago

Applied Materials' quarterly revenue beats Street

1 Min Read

SAN FRANCISCO, Nov 15 (Reuters) - Top chip gear-maker Applied Materials posted fiscal fourth-quarter revenue of $1.65 billion, down from $2.18 billion in the year-ago period as it struggles with a slowdown in spending on chip manufacturing equipment and troubles at its solar and display groups.

Analysts had expected fourth-quarter revenue of $1.576 billion, according to Thomson Reuters I/B/E/S.

Applied Materials said it had a net loss for the quarter ended in October of $515 million, or 42 cents a share, versus net income of $456 million, or 34 cents a share, in the same quarter last year.

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