Lam Research: Fiscal Q3 Earnings Snapshot
FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal third-quarter profit of $965.8 million.
The Fremont, California-based company said it had profit of $7.34 per share. Earnings, adjusted for one-time gains and costs, came to $7.79 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $7.26 per share.
The semiconductor equipment maker posted revenue of $3.79 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $3.7 billion.
For the current quarter ending in June, Lam Research expects its per-share earnings to range from $7.50 to $8.25.
The company said it expects revenue in the range of $3.8 billion to $4.1 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
