Chip equipment maker Lam Research forecasts strong revenue on AI boom
LRCX•Quarterly results and outlook
Here are some details:
- The company expects revenue of $8.10 billion, plus or minus $400 million, for the first quarter ending September 27, above analysts' average estimate of $7.09 billion, according to data compiled by LSEG.
- Lam sees quarterly adjusted earnings of $2.15 per share, plus or minus 15 cents, compared with analysts' estimate of $1.83.
- For the fourth quarter ended June 28, the chip-equipment maker posted revenue of $6.72 billion, beating estimate of $6.67 billion.
- Quarterly adjusted earnings per share of $1.82 also came in ahead of analysts' estimate of 1.68.
- Lam Research counts Taiwan Semiconductor Manufacturing Co 2330.TW and Samsung Electronics 005930.KS among its significant customers.
Lam Research forecasts first-quarter revenue above estimates
July 29 (Reuters) - Lam Research LRCX.O forecast first-quarter revenue above Wall Street estimates and beat expectations for quarterly revenue on Wednesday, as rising spending on AI infrastructure drove demand for its chipmaking equipment.
Shares of the Fremont, California-based company rose 6% in extended trading.
AI-driven spending by major technology companies has fueled demand for advanced chips, boosting investment in chipmaking equipment used to manufacture them.
Lam Research supplies deposition, etch and cleaning equipment used to build the microscopic layers and patterns that form the circuits inside semiconductor chips.
