Lam Research (LRCX) reported fiscal Q1 diluted earnings late Wednesday of $6.66, down from $10.39 a year earlier.
Analysts surveyed by Capital IQ expected $5.94.
Revenue for the quarter ended Sept. 24 was $3.48 billion, down from $5.07 billion a year earlier.
Analysts surveyed by Capital IQ expected $3.42 billion.
The company said it expects fiscal Q2 non-GAAP diluted earnings of $7.00, plus or minus $0.75. Analysts surveyed by Capital IQ are expecting $6.75.
Revenue for the second fiscal quarter is projected to be $3.7 billion, plus or minus $300 million. Analysts surveyed by Capital IQ are looking for $3.65 billion.