Lam Research Q3 Profit Rises to $2.75 Billion as Revenue Jumps 54%

Lam Research Corp. (LRCX) reported third-quarter net income of $2.753 billion, or $2.19 per share, up from $1.568 billion, or $1.24 per share, a year earlier, the chip-equipment maker said. Adjusted earnings came in at $2.768 billion, or $2.20 per share. Revenue rose 54.4% to $8.219 billion from $5.324 billion. For the next quarter, the company guided earnings of $2.33 to $2.48 per share on revenue of $8.60 billion to $9.00 billion.