Lam Research Earnings: Here’s Why Investors are Happy Now
Lam Research Corporation (NASDAQ:LRCX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.46%.
Lam Research Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.8 in the quarter versus EPS of $0.60 in the year-earlier quarter.
Revenue: Rose 32.92% to $986 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lam Research Corporation reported adjusted EPS income of $0.8 per share. By that measure, the company beat the mean analyst estimate of $0.71. It beat the average revenue estimate of $981.93 million.
Quoting Management: “Lam Research had a very strong June 2013 quarter, achieving record shipments and revenue and delivering EPS performance that exceeded our guidance range,” said Martin Anstice, Lam’s president and chief executive officer. “Our results underscore our strong operational execution and commitment to invest strategically to address our customers’ most critical problems and further strengthen our competitive positions. We believe we will benefit from market expansion opportunities and that our focus on technology and productivity innovation positions us well for next-generation technology inflections and investments planned by our customers.”
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