Lam Research Earnings: Here’s Why Investors Like These Results

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 up 1.79%.

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Lam Research Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 12% to $0.44 in the quarter versus EPS of $0.50 in the year-earlier quarter.

Revenue: Rose 28.22% to $844.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lam Research Corporation reported adjusted EPS income of $0.44 per share. By that measure, the company beat the mean analyst estimate of $0.37. It beat the average revenue estimate of $838.33 million.

Quoting Management: “This decision reflects the Board’s confidence in our performance and growth strategy, and it reinforces our ongoing commitment to enhancing shareholder value,” stated Martin Anstice, president and chief executive officer of Lam Research. “We continue to be focused on effectively managing our cash resources, balancing the needs of our business and providing the flexibility to invest in future growth opportunities while sustaining our commitment to return excess cash to shareholders,” Anstice concluded.

Key Stats (on next page)…

Revenue decreased 1.86% from $860.89 million in the previous quarter. EPS decreased 2.22% from $0.45 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.64 to a profit $0.61. For the current year, the average estimate has moved down from a profit of $2.06 to a profit of $1.97 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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