FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal first-quarter net income of $1.43 billion.

On a per-share basis, the Fremont, California-based company said it had net income of $10.39. Earnings, adjusted for non-recurring costs, were $10.42 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $9.54 per share.

The semiconductor equipment maker posted revenue of $5.07 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $4.89 billion.

For the current quarter ending in December, Lam Research expects its per-share earnings to range from $9.25 to $10.75. Analysts surveyed by Zacks had forecast adjusted earnings per share of $9.54.

The company said it expects revenue in the range of $4.8 billion to $5.4 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.94 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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