Earnings Results: Lam Research tops $4 billion in quarterly sales for first time amid semiconductor shortage

Lam Research Corp. sold more than $4 billion worth of semiconductor-manufacturing equipment and services in a single quarter for the first time and produced record profit as chip companies continue to cash in amid a global shortage.

Lam Research Corp. sold more than $4 billion worth of semiconductor-manufacturing equipment and services in a single quarter for the first time and produced record profit as chip companies continue to cash in amid a global shortage.