Lam Research (Nasdaq: LRCX) reported earnings on Oct. 17. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 23 (Q1), Lam Research met expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
 Lam Research reported revenue of $906.9 million. The 15 analysts polled by S&P Capital IQ wanted to see revenue of $903.6 million on the same basis. GAAP reported sales were 33% higher than the prior-year quarter's $680.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.53. The 17 earnings estimates compiled by S&P Capital IQ anticipated $0.41 per share. GAAP EPS of $0.02 for Q1 were 97% lower than the prior-year quarter's $0.58 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 36.8%, 490 basis points worse than the prior-year quarter. Operating margin was 1.8%, 1,310 basis points worse than the prior-year quarter. Net margin was 0.3%, 1,030 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $878.5 million. On the bottom line, the average EPS estimate is $0.47.

Next year's average estimate for revenue is $3.66 billion. The average EPS estimate is $2.18.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 343 members out of 370 rating the stock outperform, and 27 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 90 give Lam Research a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lam Research is outperform, with an average price target of $43.17.

Is Lam Research the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.