FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal second-quarter profit of $1.59 billion.
The Fremont, California-based company said it had profit of $1.26 per share. Earnings, adjusted for one-time gains and costs, came to $1.27 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The semiconductor equipment maker posted revenue of $5.34 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $5.23 billion.
For the current quarter ending in March, Lam Research expects its per-share earnings to range from $1.25 to $1.45.
The company said it expects revenue in the range of $5.4 billion to $6 billion for the fiscal third quarter.
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