Lam Research reported quarterly adjusted earnings of $8.83 per share, topping the Zacks Consensus Estimate of $7.31 per share. The year-ago quarter’s earnings were $8.09 per share.
The semiconductor equipment company’s revenues grew +11.8% from the year-ago quarter to $4.64 billion for the quarter ,exceeding the Zacks Consensus Estimate by 10.14%.
Revenues from the company’s system business grew +8.8% from the year-ago quarter to $3.01 billion (64.9% of the total revenues). The Customer Support Business Group generated revenues of $1.63 billion (35.1%) in the quarter, +17.9% higher year over year.
For first-quarter fiscal 2023, Lam expects revenues of $4.9 billion (+/- $300 million), vs. Zacks Consensus Estimate of at $4.66 billion.
The company projects Non-GAAP earnings to be $9.50 (+/- 75 cents) per share, vs. the Zacks Consensus Estimate of $8.90.