FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal third-quarter net income of $1.83 billion.
The Fremont, California-based company said it had net income of $1.45 per share. Earnings, adjusted for non-recurring costs, came to $1.47 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The semiconductor equipment maker posted revenue of $5.84 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $5.77 billion.
For the current quarter ending in June, Lam Research expects its per-share earnings to range from $1.50 to $1.80.
The company said it expects revenue in the range of $6.2 billion to $7 billion for the fiscal fourth quarter.
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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 LRCX at https://www.zacks.com/ap/LRCX
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