FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal first-quarter net income of $1.18 billion.

The Fremont, California-based company said it had profit of $8.27 per share. Earnings, adjusted for non-recurring costs, were $8.36 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $8.13 per share.

The semiconductor equipment maker posted revenue of $4.3 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.31 billion.

For the current quarter ending in January, Lam Research expects its per-share earnings to range from $7.95 to $8.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $8.28.

The company said it expects revenue in the range of $4.15 billion to $4.65 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.36 billion.

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

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