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

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.

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“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.  

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