Lam Research: Fiscal Q2 Earnings Snapshot

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FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal second-quarter earnings of $1.19 billion.

The Fremont, California-based company said it had net income of 92 cents per share. Earnings, adjusted for one-time gains and costs, were 91 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The semiconductor equipment maker posted revenue of $4.38 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $4.31 billion.

For the current quarter ending in March, Lam Research expects its per-share earnings to range from 90 cents to $1.10.

The company said it expects revenue in the range of $4.35 billion to $4.95 billion for the fiscal third 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