Lam Research rises on beating FQ1 expectations top and bottom line; guides FQ2 above consensus
Lam Research press release (NASDAQ:LRCX): FQ1 Non-GAAP EPS of $10.42  beats by $0.88.
Revenue of $5.07B (+17.9% Y/Y)  beats by $160M.
U.S. GAAP gross margin of 46.1%, U.S. GAAP operating income as a percentage of revenue of 33.5%
Non-GAAP gross margin of 46.0%, non-GAAP operating income as a percentage of revenue of 33.3%.


Outlook FQ2: Revenue $5.1B +/- $300M vs. consensus $4.74B; Gross margin 44.5% +/- 1%; Operating income 31.5% +/- 1%; Non GAAP EPS $10 +/-$0.75 vs. consensus $8.98.
âLam exceeded $5 billion in revenue in the September quarter, an all-time record. Solid execution combined with easing supply chain conditions produced strong overall performance,â said Tim Archer, Lam Researchâs President and CEO. âWhile we expect weaker wafer fabrication equipment spending in 2023, our technology leadership and demonstrated track record of managing through downturns provide us a strong foundation to capture the exciting opportunities ahead for the semiconductor industry.â
Shares +3%.