– 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