Lam Research Corporation Reveals Increase In Q1 Profit, Beats Estimates

(RTTNews) - Lam Research Corporation (LRCX) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.116 billion, or $0.86 per share. This compares with $887.4 million, or $0.67 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.8 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.7% to $4.167 billion from $3.482 billion last year.

Lam Research Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.116 Bln. vs. $887.4 Mln. last year. -EPS (Q1): $0.86 vs. $0.67 last year. -Revenue (Q1): $4.167 Bln vs. $3.482 Bln last year.

-Guidance: Next quarter EPS guidance: $0.77-$0.97 Next quarter revenue guidance: $4-$4.6 Bln