Lam Research (NASDAQ: LRCX) reported Q3 EPS of $3.70, $0.32 better than the analyst estimate of $3.38. Revenue for the quarter came in at $2.44 billion versus the consensus estimate of $2.4 billion.

• Revenue of $2.44 billion.
• U.S. GAAP gross margin of 44.0%, U.S. GAAP operating income as a percentage of revenue of 23.2%, and U.S. GAAP diluted EPS of $3.47.
• Non-GAAP gross margin of 45.1%, non-GAAP operating income as a percentage of revenue of 25.1%, and non-GAAP diluted EPS of $3.70.

“Lam’s March quarter results demonstrate strong execution in a challenging near-term industry environment,” said Timothy Archer, Lam Research’s President and Chief Executive Officer. “By continuing to focus on customer needs and investing to extend differentiation in our product and services portfolio, Lam is well positioned to emerge stronger as market conditions improve.”

GUIDANCE:

Lam Research sees FY2019 EPS of $3.20-$3.60, versus the consensus of $3.33. Lam Research sees FY2019 revenue of $2.2-2.5 billion, versus the consensus of $2.34 billion.

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