Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
FREMONT, Calif. - Lam Research Corporation (NASDAQ:LRCX) reported better-than-expected fiscal second quarter results, sending shares up 6.5% in after-hours trading on Wednesday.
The semiconductor equipment maker posted adjusted earnings per share of $0.91, beating analyst estimates of $0.88. Revenue came in at $4.38 billion, topping expectations of $4.31 billion and rising 16.4% YoY.
"Lam is executing at a high level at a pivotal moment for semiconductor manufacturing," said Tim Archer, Lam Research’s President and CEO. "Increasing demands on chip performance play into Lam’s strengths, with advanced deposition and etch applications set to comprise a growing share of WFE."
For the fiscal third quarter, Lam Research expects revenue between $4.35 billion and $4.95 billion, compared to the $4.65 billion consensus. The company forecasts adjusted EPS of $0.90 to $1.10, versus analyst estimates of $1.00.
Gross margin for Q2 was 47.5% on a non-GAAP basis, down from 48.2% in the previous quarter. Operating income as a percentage of revenue came in at 30.7%, slightly below last quarter’s 30.9%.
The company’s strong results and outlook suggest continued robust demand for semiconductor manufacturing equipment, despite broader economic uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.