Lam Research Corp. (NASDAQ:LRCX) reported third-quarter results after Wednesday's closing bell, beating analyst estimates on the top and bottom lines.
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Q3 Details
Lam Research reported quarterly earnings of $1.47 per share, which beat the Street consensus estimate of $1.36 by 8.09%, according to Benzinga Pro data.
Quarterly revenue clocked in at $5.84 billion, which beat the analyst estimate of $5.78 billion and was up from $4.72 billion in the same period last year.
“Lam delivered record revenue and EPS in the March quarter as AI-driven demand reshapes the semiconductor industry,” said CEO Tim Archer.
“Our strategic investments and the velocity of our execution are generating strong momentum, enabling customers’ AI roadmaps and driving Lam’s outperformance during this critical phase of industry growth,” Archer added.
Outlook
The company sees fourth quarter adjusted EPS of $1.50 to $1.80, versus the $1.45 analyst estimate, and revenue of $6.2 billion to $7 billion, versus the $6.09 billion analyst estimate.
LRCX Stock Price: According to data from Benzinga Pro, Lam Research stock was up 3.67% to $275.29 in Wednesday's extended trading.
Photo: Michael Vi / Shutterstock
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