(Reuters) -Applied Materials forecast quarterly revenue below estimates on Thursday, citing uneven demand from clients amid economic uncertainty and high China inventory, sending its shares down more than 11% in extended trading.
The company expects fourth-quarter revenue of $6.70 billion, plus or minus $500 million, compared with analysts’ average estimate of $7.33 billion, according to data compiled by LSEG.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shreya Biswas)
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