Semiconductor company Lam Research (NASDAQ: LRCX) has announced financial results for the second quarter of 2023, reporting higher earnings and revenues.
Adjuster profit, excluding special items, advanced to $10.71 per share in the December quarter from $10.42 per share in the same period of last year. The reported profit was $1.47 billion and $10.77 per share, higher than last year’s net income of $1.19 billion or $8.44 per share.
Driving the bottom-line growth, revenues rose sharply by 25% year-over-year to $5.28 billion, with strong contributions from the Chinese and Korean markets.
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