REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies.
Applied reported third-quarter revenue of $6.43 billion, beating analysts' average estimate of $6.16 billion, according to Refinitiv data.
Applied finance chief Brice Hill said that despite overall lower chip equipment spending this year, the company's services business would continue to grow.
For its company's semiconductor systems unit, which supplies gear to chip makers, third-quarter revenue slipped roughly 1% to $4.68 billion.
Samsung Electronics (005930.KS), Taiwan Semiconductor Manufacturing Co (2330.TW), and Intel Corp (INTC.O) use the company's advanced chip production tools.
Persons:
Dado Ruvic, Gary Dickerson, Brice Hill, Jaspreet Singh, Max A, Shinjini Ganguli, David Gregorio, Jamie Freed
Organizations:
REUTERS, Semiconductor, Applied, Lam Research, KLA, Samsung Electronics, Taiwan Semiconductor Manufacturing, Intel Corp, Thomson
Locations:
Santa Clara , California, China, Bengaluru, Max, San Francisco