FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal third-quarter net income of $1.33 billion.
On a per-share basis, the Fremont, California-based company said it had profit of $1.03. Earnings, adjusted for non-recurring costs, were $1.04 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The semiconductor equipment maker posted revenue of $4.72 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $4.64 billion.
For the current quarter ending in June, Lam Research expects its per-share earnings to range from $1.10 to $1.30.
The company said it expects revenue in the range of $4.7 billion to $5.3 billion for the fiscal fourth quarter.
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