Lam Research (NASDAQ: LRCX): Q2 2020 Earnings Snapshot

— Lam Research Corp. (NASDAQ: LRCX) reported its second-quarter 2020 adjusted earnings of $4.01 per share versus $3.85 per share expected.

— Revenue rose by 2% to $2.58 billion versus $2.51 billion expected.

— Deferred revenue at the end of December 2019 quarter fell to $411 million from $481 million in the previous quarter. The balance does not include shipments to customers in Japan, to whom the title does not transfer until customer acceptance.

— Looking ahead into the third quarter, the company expects revenue in the range of $2.6-3.0 billion. The consensus estimates revenue of $2.58 billion.

— The earnings are anticipated to be in the range of $4.06-4.86 per share and adjusted earnings are predicted to be $4.15-4.95 per share. The market analysts predict EPS of $4.00.

— Gross margin is projected to be in the range of 45.4% to 47.4% and the operating margin is predicted to be 26.5% to 28.5% for the third quarter.

— Cash and cash equivalents, short-term investments, and restricted cash and investments balances fell by 16% at the end of the December 2019 quarter from the previous quarter. This was due to share repurchases, dividends paid and capital expenditures.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips