Lam Research Corp (NASDAQ:LRCX) recently announced its first-quarter earnings report, exceeding analyst expectations and receiving a positive response from investors. The semiconductor equipment maker reported adjusted earnings per share of $0.86, surpassing the estimated $0.81. Additionally, the company posted revenue of $4.17 billion, higher than the consensus forecast of $4.05 billion, marking a 7.6% increase year over year.
Looking ahead, Lam Research provided an optimistic outlook for the coming quarter. The company’s guidance for the second quarter exceeded expectations, with revenue projected to be between $4 billion and $4.6 billion. The midpoint of $4.3 billion was above the analyst consensus of $4.22 billion. Adjusted earnings per share for the upcoming quarter are expected to range from $0.77 to $0.97, compared to the consensus estimate of $0.85.
Tim Archer, President and CEO of Lam Research, expressed confidence in the company’s financial performance and highlighted the significance of etch and deposition in enabling the next generation of semiconductors. The company’s gross margin improved to 48.0% from 47.5% in the previous quarter, while operating income as a percentage of revenue increased to 30.3% from 29.1% sequentially.
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