Lam Research (LRCX) Stock Takes a Breather Despite Another Record Quarter
Lam Research (NASDAQ: LRCX) shares fell 2.3% after-hours after the reported its Q2 results, representing the sixth consecutive quarter of record revenue and earnings per share. Quarterly EPS came in at $8.36, beating the consensus estimate of $8.21, and revenue at $4.3 billion (vs. Street of $4.32 billion) driven by strong demand and solid execution.
The company provided its Q3 outlook, expecting quarterly EPS to range from $7.87 to $8.87 (vs. Street of $8.47) and revenue to be between $4.15 and 4.65 billion (vs. Street of $4.4 billion).