Lam Research (LRCX) Tops Q3 EPS by 25c

Lam Research (NASDAQ: LRCX) reported Q3 EPS of $2.80, $0.25 better than the analyst estimate of $2.55. Revenue for the quarter came in at $2.15 billion versus the consensus estimate of $2.13 billion.

For the March 2017 quarter, non-GAAP gross margin was $993 million or 46.1% of revenue, non-GAAP operating expenses were $414 million, non-GAAP operating margin was 26.9% of revenue, and non-GAAP net income was $508 million, or $2.80 per diluted share. This compares to non-GAAP gross margin of $874 million or 46.4% of revenue, non-GAAP operating expenses of $384 million, non-GAAP operating margin of 26.0% of revenue, and non-GAAP net income of $405 million, or $2.24 per diluted share for the December 2016 quarter.

“The company continues to perform extremely well, again setting new records of financial performance with underlying business levels almost 70% higher than the year ago equivalent quarter. This accomplishment is made possible by our broad competitive strength, with products and services increasingly enabling the success of our customers,” said Martin Anstice, Lam Research’s President and Chief Executive Officer. “Our outlook for the year has improved, and we are increasingly convinced by the potential for sustainable value creation from long-term diverse and secular technology demand trends.”

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

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