Applied Materials forecasts quarterly results above estimates; shares jump

Feb 12 (Reuters) - Applied Materials forecast second-quarter revenue and profit above ‌market estimates on Thursday, betting ‌on a boom in demand for AI ​processors to help drive sales of its chipmaking equipment, sending its shares up 9% in extended trading.

The ‌largest U.S. ⁠semiconductor equipment maker, Applied Materials, has benefited from relentless demand ⁠for AI chips, as chip manufacturers expand production capacity.

The company is ​also expected ​to cash ​in on a ‌worldwide memory shortage, with memory providers boosting investment in increasing their manufacturing capacity.

Applied Materials expects second-quarter sales of about $7.65 billion, plus or minus $500 ‌million, compared with ​estimates of $7.01 billion, according ​to ​data compiled by LSEG.

The company ‌expects second-quarter adjusted profit ​of ​about $2.64 per share, plus or minus 20 cents, compared with estimates ​of profit ‌of $2.28.

(Reporting by Arsheeya Bajwa in ​Bengaluru; Editing by Alan Barona ​and Sriraj Kalluvila)