FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal first-quarter earnings of $1.12 billion.
The Fremont, California-based company said it had net income of 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The semiconductor equipment maker posted revenue of $4.17 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $4.05 billion.
For the current quarter ending in December, Lam Research expects its per-share earnings to range from 77 cents to 97 cents.
The company said it expects revenue in the range of $4 billion to $4.6 billion for the fiscal second 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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