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Lam Research's revenue rises 52 pct as chip demand surges

Oct 17 (Reuters) - Semiconductor equipment maker Lam Research Corp reported a 52 percent rise in quarterly revenue on Tuesday as the company reaped the rewards of chipmakers stepping up investments in technology and capacity.

The company's net income more than doubled to $590.7 million, or $3.21 per share, in the quarter ended Sept. 24, from $236.8 million, or $1.47 per share, a year earlier.

Revenue rose to $2.48 billion from $1.63 billion. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)