The high-precision inter-satellite laser interferometer is the key payload of the TianQin mission satellite, and the raw data processing of laser interferometric measurements is a crucial step in achieving its scientific objectives. Based on the measurements from the GRACE-FO gravity satellite, this study investigated the characteristics of laser ranging interferometer (LRI) measurements and raw data processing procedures. To validate the reliability of the data processing techniques, this study compares the processing results with RL04 product form NASA JPL and V50 product form AEI in terms of phase jump processing, scale factor estimation, biased range, and gravity field recovery results. The results show that the LRI product processed in this study demonstrates a precision of 1 nm/s/√Hz at 0.1 Hz, which is comparable to the V50 and better than RL04. Moreover, the geoid degree variance of gravity field based on the product in this study is superior to JPL's results for degrees above 30, and shows a good consistency with AEI’s results. The LRI raw data processing algorithm and software shown in this study can effectively process the raw LRI measurements, providing a foundation for the future LRI data processing work of TianQin 2, while also offering experience for TianQin 3.