Categories Earnings, Technology

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.

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