Lam Research Beats Estimates (LRCX)

Lam Research LRCX released its fiscal Q1 earnings results after the closing bell on Wednesday. The company reported net income of $193.7 million or $1.55 per share compared to $16.8 million or $0.13 per share in the year ago period. On an adjusted basis, EPS was $1.52. This came in ahead of Wall Street analysts' consensus estimates of $1.37. Revenues were $805.87 million compared to $318.54 million in last year's corresponding quarter. This beat analysts' consensus revenue estimates of $794.41 million. In the after hours trading session LRCX shares have gained 0.36% to $41.40.