Lam Research Stock Climbs After Better-Than-Expected Q1 Results: Details

Lam Research Corporation LRCX reported its first-quarter results after Wednesday's closing bell. Here's a look at the details from the report.  

The Details: Lam Research reported quarterly earnings of 86 cents per share, which beat the analyst consensus estimate of 80 cents. Quarterly revenue came in at $4.17 billion, which beat the analyst consensus estimate of $4.051 billion and is an increase over sales of $3.482 billion from the same period last year.

The company reported non-GAAP gross margin of 48.2% and deferred revenue at the end of the quarter increased to $2.047 billion compared to $1.552 billion as of the end of the previous quarter.

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“With continued strong execution, Lam delivered financial performance ahead of expectations,” said Tim Archer, Lam Research’s CEO. “Looking forward, etch and deposition are fundamental to enabling the next generation of semiconductors. Our investments in key technology inflections position us well to outperform WFE growth in 2025 and beyond.”

Outlook: Lam Research sees second-quarter adjusted earnings of 87 cents per share, plus or minus 10 cents and quarterly revenue of $4.3 billion, plus or minus $300 million.

LRCX Price Action: According to Benzinga Pro, Lam Research shares are up 4.89% after-hours at $76.36 at the time of publication Wednesday.

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