Categories Earnings, Technology

Lam Research betters Q3 expectations; stock surges

Lam Research (NASDAQ: LRCX) surpasses third quarter 2019 earnings and revenue estimates. Adjusted earnings of $3.70 and revenue of $2.44 billion beat analysts’ views of earnings of $3.38 per share and revenue of $2.4 billion for the March quarter. Lam Research stock rose 5% during after-hours of trading.

For the quarter ending June 30, 2019, the Fremont, California-based semiconductor firm expects earnings per share to be $3.31, plus or minus 20 cents on a GAAP basis, and earnings per share to be $3.40, plus or minus 20 cents on a non-GAAP basis. Revenue is touted to be $2.35 billion, plus or minus $150 million for the June quarter.

Lam Research (LRCX) Q3 2019 earnings infograph

“Lam’s March quarter results demonstrate strong execution in a challenging near-term industry environment,” said CEO Timothy Archer.

The company paid a quarterly dividend of $1.10 per share on April 10, 2019, to shareholders of record as of March 20, 2019.

The semiconductor industry, which was battered in 2018 by the trade war between the US and China, the fear of global economy slow down, and the crash in cryptocurrency, bounced back in 2019. This is evidence by the fact that the Philadelphia Semiconductor Index increased 37% in 2019.

LRCX stock, which inched up 0.34% to $195.44 when market closed today. had gained 44% since beginning of this year and 5% in the past 12 months.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

 

Most Popular

Infographic: How Starbucks (SBUX) performed in Q1 2023

Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.   Global comparable store sales increased

Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit

Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top