FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal second-quarter profit of $1.19 billion.
On a per-share basis, the Fremont, California-based company said it had net income of $8.44. Earnings, adjusted for one-time gains and costs, came to $8.53 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $8.46 per share.
The semiconductor equipment maker posted revenue of $4.23 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $4.4 billion.
For the current quarter ending in April, Lam Research expects its per-share earnings to range from $6.70 to $8.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $8.71.
The company said it expects revenue in the range of $3.95 billion to $4.55 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $4.51 billion.
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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