Lam Research (LRCX) Tops Q3 EPS by 8c; Issues Solid Outlook

Lam Research (NASDAQ: LRCX) reported Q3 EPS of $1.18, $0.08 better than the analyst estimate of $1.10. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.31 billion.

GUIDANCE:

Lam Research sees Q4 2016 EPS of $1.53-$1.73, versus the consensus of $1.54. Lam Research sees Q4 2016 revenue of $1.525-1.575 billion, versus the consensus of $1.49 billion.

"Lam is off to a very solid 2016 beginning, with our customer trust priority and strong execution combining to deliver financial results that met or exceeded expectations across the board," said Martin Anstice, Lam Research's President and Chief Executive Officer. "By partnering closely with our customers we facilitate key technology inflections like 3D device architectures and multi-patterning process flows, we are increasing our strategic relevance and positioning the company to sustain multi-year outperformance within our industry. We expect to combine with KLA-Tencor mid-year and are focused on accelerating momentum to innovate beyond what is possible currently, for the benefit of all Lam stakeholders and the broad semiconductor eco-system. We are privileged to have this opportunity and are enthusiastic about our potential."

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

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