Applied Materials Inc., the biggest maker of semiconductor-making machinery, expects sales to decline in the current quarter, though not as sharply as analysts had feared.

Fiscal third-quarter sales will be about $6.15 billion, the company said in a statement Thursday, compared with $6.52 billion a year earlier. Analysts had estimated $5.97 billion.

Makers of memory chips are struggling with a historic glut of inventory, forcing them to cut spending on equipment upgrades and new factories. That’s hurt orders for companies such as Applied Materials, threatening a pandemic-era growth run.

Still, Applied Materials is benefiting from the rush to make more chips for cars and factory equipment. That’s helping offset a slowdown in orders for machines that produce components for smartphones and personal computers. Consumer demand for those devices hasn’t recovered, making semiconductor suppliers reluctant to invest in new equipment.

Applied Materials shares slipped 1% in late trading after the results were released. They earlier closed at $129.92 in New York, leaving them up 33% this year.

Excluding some items, earnings will be $1.56 to $1.92 a share in the current quarter, versus a projection of $1.63 a share.

Demand for less sophisticated chips has held up better than those made with the latest techniques. That’s because automakers and industrial-equipment producers are using simpler kinds of semiconductors to add new functions to their products. Such devices don’t need to be made with cutting-edge gear, unlike the key chips found in smartphones and personal computers.

Chinese customers also are rushing to add new capacity for older types of production. Companies in that country are subject to US government restrictions on their access to the most advanced production gear.

Second-quarter profit was $2 a share, excluding some items. Sales rose 6.2% to $6.63 billion in the period. Analysts estimated earnings of $1.83 a share and revenue of $6.37 billion.