(Reuters) - Chip gear maker Applied Materials Inc (NASDAQ:AMAT) forecast second-quarter revenue and profit above Wall Street estimates on Wednesday, as clients upgraded their semiconductor equipment ahead of a global 5G roll out.
For the current-quarter, the company expects revenue of $4.34 billion, plus or minus $200 million, above analysts' expectations of $4.05 billion, according to IBES data from Refinitiv.
The company expects adjusted profit to be in the range of 98 cents per share to $1.10 per share, higher than analysts' estimates of 92 cents.