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Lam Research (LRCX) Reports Q3 Earnings: What Key Metrics Have to Say

For the quarter ended March 2023, Lam Research (LRCX) reported revenue of $3.87 billion, down 4.7% over the same period last year. EPS came in at $6.99, compared to $7.40 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.82 billion, representing a surprise of +1.23%. The company delivered an EPS surprise of +7.04%, with the consensus EPS estimate being $6.53.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Lam Research performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Leading- and non-leading-edge equipment and upgrade Revenue - Memory: 32% versus 53.58% estimated by three analysts on average.

  • Leading- and non-leading-edge equipment and upgrade Revenue - Logic/integrated device manufacturing: 22% versus the three-analyst average estimate of 15.69%.

  • Leading- and non-leading-edge equipment and upgrade Revenue - Foundry: 46% versus the three-analyst average estimate of 30.71%.

  • Customer support-related revenue and other: $1.61 billion versus the three-analyst average estimate of $1.60 billion.

  • Systems revenue: $2.26 billion compared to the $2.20 billion average estimate based on three analysts.

View all Key Company Metrics for Lam Research here>>>

Shares of Lam Research have returned +3% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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