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Lam Research Stock Slips Despite Solid Earnings

Lam Research Stock Slips Despite Solid Earnings

For the March quarter, the semiconductor equipment company reported revenue of $3.8 billion, up 0.9% from a year earlier. On an adjusted basis, Lam earned $7.79 a share, beating both the midpoint of the company’s guidance range at $7.25 and the consensus estimate at $7.30 a share. “With solid revenue and earnings per share performance in the first quarter, Lam is off to a strong start in calendar 2024,” Lam CEO Tim Archer said in a statement.