Lam Research (LRCX) Tops Q1 EPS by 3c; Issues Solid Outlook

Lam Research (NASDAQ: LRCX) reported Q1 EPS of $1.81, $0.03 better than the analyst estimate of $1.78. Revenue for the quarter came in at $1.63 billion versus the consensus estimate of $1.63 billion.

GUIDANCE:

Lam Research sees Q2 EPS of $2.08-$2.28, which may not compare to the consensus of $1.62. Lam Research sees Q2 revenue of $1.765-1.915 billion, which may not compare to the consensus of $1.65 billion.

“Lam delivered another record quarter in shipments, revenues and non-GAAP net income, validating the importance of having the right products at the right time to address industry enabling technology inflections that are critical to powering a new generation of semiconductor devices in a world that is now clearly, more than Moore,” said Martin Anstice, Lam Research’s President and Chief Executive Officer. “We continue to see strong momentum for differentiated products and services addressing key applications including multi-patterning, 3D device architecture and advanced packaging. The combination of our technology leadership, disciplined operational execution and close partnerships with customers positions us for our fifth straight calendar year of revenue growth of approximately 18% annually over that period, record performance in 2016 and a favorable forward looking multi-year growth outlook."

For earnings history and earnings-related data on Lam Research (LRCX) click here.

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