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Lam Research Corp. (LRCX): Q1 2020 Earnings Snapshot

– Lam Research Corp. (NASDAQ: LRCX) reported first-quarter 2020 adjusted earnings of $3.18 per share, vs. $3.01 per share expected.

– September-quarter unadjusted earnings were $3.09 per share, vs. $3.23 per share last year

– Revenues declined 7% year-over-year to $2.17 billion, vs. $2.16 billion expected

– Forecasts second-quarter revenues of $2.5 billion

– Looking for Q2 adjusted earnings of $3.80 per share; reported earnings of $3.71 per share

– Lam Research shares gained 66% since the beginning of 2019; gained further during Wednesday’s after-hours sesson

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