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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lam Research Corporation | NASDAQ:LRCX | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25.35 | 2.87% | 909.03 | 908.66 | 909.26 | 912.615 | 895.545 | 898.74 | 345,510 | 19:45:00 |
From May 2023 to May 2024
By Sabela Ojea
Lam Research said profit and revenue plunged in its first quarter as the semiconductor industry remains under pressure in the U.S.
The Fremont, Calif.-based company which manufactures and services equipment used to make semiconductors on Wednesday posted a profit of $887.4 million, or $6.66 a share, compared with $1.43 billion, or $10.39 cents a share, for the same period a year earlier.
Stripping out one-time items, earnings per share came in at $6.85. Analysts polled by FactSet had forecast adjusted earnings per share of $6.15.
First-quarter revenue plunged 31% to $3.48 billion, beating analysts expectations of $3.42 billion, according to FactSet.
Lam Research is seeing a cyclically soft year for wafer fabrication equipment spending, but it "is investing strategically to drive long-term outperformance," President and Chief Executive Tim Archer said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 18, 2023 16:59 ET (20:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year Lam Research Chart |
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