Lam Research: Fiscal Q2 Earnings Snapshot

FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal second-quarter net income of $954.3 million.

The Fremont, California-based company said it had net income of $7.22 per share. Earnings, adjusted for one-time gains and costs, were $7.52 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $7.06 per share.

The semiconductor equipment maker posted revenue of $3.76 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $3.71 billion.

For the current quarter ending in March, Lam Research expects its per-share earnings to range from $6.50 to $8.

The company said it expects revenue in the range of $3.4 billion to $4 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