Lam Research (LRCX) Stock Falls 6% as Q4 EPS Beat, But Guidance Misses
Lam Research (NASDAQ: LRCX) shares were trading around 6% lower after-hours following the company’s Q4 results. EPS came in at $8.53, slightly above the consensus estimate of $8.51. Revenue was $4.23 billion, missing the consensus of $4.41 billion.
According to Tim Archer, President and CEO of Lam Research, the company expects wafer fabrication equipment investments to again increase in 2022, despite the supply chain conditions worsening in late December and causing near-term impacts to the company’s results.
The company provided its Q1 outlook, expecting EPS of $7.45 at the midpoint (vs. Street’s $8.72) and revenue of $4.25 billion at the midpoint (vs. Street’s $4.49 billion).