January 24, 2018 / 9:22 PM / 4 months ago

Lam Research's second-quarter revenue rises 37 pct

Jan 24 (Reuters) - Chip equipment manufacturer Lam Research Corp’s revenue rose 37.1 percent in the fourth quarter, as chipmakers spent heavily to make the most of rising semiconductor prices and booming demand.

Fremont, California-based Lam said on Wednesday its revenue rose to $2.58 billion in the second quarter ended Dec. 24 from $1.88 billion a year earlier.

The company recorded a net loss of $10 million or 6 cents per share, compared to a profit of $332.8 million or $1.81 per share in the year-ago period, due to a $757 million one-time charge related to new U.S. tax laws. (Reporting by Munsif Vengattil in Bengaluru; editing by Sai Sachin Ravikumar)

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