Lam Research Shares Climb After Solid Q2 Report, Q3 Guidance Above Estimates

Comments
Loading...
Zinger Key Points

Lam Research Corp. LRCX reported its second-quarter financial results after Wednesday's closing bell. Here's a look at the key figures from the quarter. 

The Details: Lam Research reported quarterly earnings of 92 cents per share, which beat the analyst consensus estimate of 88 cents. Quarterly revenue came in at $4.38 billion, which beat the analyst consensus estimate of $4.31 billion and is an increase over revenue of $3.75 billion from the same period last year.

Read Next: Robert Kennedy Jr. Faces Senate Confirmation Hearings As Bird Flu Concerns Grow: Caroline Kennedy Says Cousin ‘Predator’ Unfit For Office 

“Lam is executing at a high level at a pivotal moment for semiconductor manufacturing. Increasing demands on chip performance play into Lam’s strengths, with advanced deposition and etch applications set to comprise a growing share of WFE,” said Tim Archer, Lam Research’s president and CEO.

Outlook: Lam Research sees third-quarter revenue of $4.65 billion, plus or minus $300 million, versus the $4.33 billion estimate. The company expects adjusted earnings of $1.00 per share, plus or minus 10 cents, versus the 88 cent estimate.

LRCX Price Action: According to data from Benzinga Pro, Lam Research shares are up 5.47% after-hours at $79.26 Wednesday.  

Read Next: 

Image: Shutterstock

LRCX Logo
LRCXLam Research Corp
$71.85-2.62%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum27.84
Growth55.86
Quality90.42
Value40.75
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In: