SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Applied Materials Inc. (AMAT) on Thursday reported fiscal fourth-quarter earnings of $2.72 billion.

The Santa Clara, California-based company said it had profit of $3.40 per share. Earnings, adjusted for one-time gains and costs, came to $4.16 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.06 per share.

The maker of chipmaking equipment posted revenue of $10.41 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $10.3 billion.

For the year, the company reported profit of $10.09 billion, or $12.62 per share. Revenue was reported as $34.45 billion.

For the current quarter ending in January, Applied Materials expects its per-share earnings to range from $4.15 to $4.55.

The company said it expects revenue in the range of $10.6 billion to $11.6 billion for the fiscal first quarter.

Applied Materials shares have risen 48% since the beginning of the year, while the S&P's 500 index has climbed 11%. In the final minutes of trading on Thursday, shares hit $380.51, a rise of 65% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMAT at https://www.zacks.com/ap/AMAT