Lam Research Corporation Q3 Profit Increases, Beats Estimates

(RTTNews) - Lam Research Corporation (LRCX) reported a profit for its third quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $1.568 billion, or $1.24 per share. This compares with $1.116 billion, or $0.86 per share, last year.

Excluding items, Lam Research Corporation reported adjusted earnings of $1.604 billion or $1.26 per share for the period.

Analysts on average had expected the company to earn $1.22 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 27.8% to $5.324 billion from $4.167 billion last year.

Lam Research Corporation earnings at a glance (GAAP) :

-Earnings: $1.568 Bln. vs. $1.116 Bln. last year. -EPS: $1.24 vs. $0.86 last year. -Revenue: $5.324 Bln vs. $4.167 Bln last year.

-Guidance: Full year EPS guidance: $1.15 +/- $0.10 Full year revenue guidance: $5.20 Bln +/- $300M