Lam Research Q2 Profit Tops Estimates

(RTTNews) - Lam Research Corp. (LRCX) reported net income for the second quarter of $176.9 million or $1.00 per share, compared to $149.0 million or $0.87 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $207.6 million or $1.19 per share.

Revenue for the second quarter rose to $1.23 billion from $1.12 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.13 per share on revenue of $1.23 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $1.32 billion to $1.42 billion, earnings of $0.99 to $1.13 per share and adjusted earnings of $1.23 to $1.37 per share. Analysts currently expect the company to earn $1.30 per share on revenue of $1.34 billion for the third quarter.