FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal second-quarter profit of $869.2 million.

On a per-share basis, the Fremont, California-based company said it had profit of $5.96. Earnings, adjusted for non-recurring costs, were $6.03 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $5.64 per share.

The semiconductor equipment maker posted revenue of $3.46 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $3.33 billion.

For the current quarter ending in April, Lam Research expects its per-share earnings to range from $6.15 to $6.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $5.70.

The company said it expects revenue in the range of $3.5 billion to $3.9 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $3.31 billion.

Lam Research shares have increased 9% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $514.95, a climb of 75% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LRCX at https://www.zacks.com/ap/LRCX

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News