Applied Materials shares have increased 15% since the beginning of the year, while the S&P's 500 index has risen 25%. In the final minutes of trading on Thursday, shares hit $186,

The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share. The company posted revenue of $377.9 million in the period, also missing Street forecasts.

Applied Materials (AMAT) came out with quarterly earnings of $2.32 per share, beating the Zacks Consensus Estimate of $2.18 per share. This compares to earnings of $2.12 per share a year ago. These figures are adjusted for non-recurring items.