Lam Research 4Q Profit, Revenue Rise

By Paul Ziobro

Lam Research posted higher profit in its recently completed quarter and expects spending on semiconductor equipment to remain strong for several years.

The Fremont, Calif.-based company, which manufactures and services equipment used to make semiconductors, on Wednesday reported a profit of $1.02 billion, or $7.78 a share, for the quarter ended June 30, compared with a profit of $802.5 million, or $5.97 a share, in the same quarter a year earlier.

Adjusted earnings were $8.14 a share. Analysts polled by FactSet expected $7.58 a share.

Revenue rose to $3.87 billion from $3.21 billion. Analysts were looking for $3.82 billion.

Chief Executive Tim Archer said the company is making strategic investments in research and development and its operations as the company enters a multi-year period of strong spending on wafer fab equipment.

For the current quarter ending Sept. 29, Lam Research expects adjusted per-share earnings between $7.25 and $8.75 and revenue between $3.75 million and $4.35 billion.

Analysts were looking for adjusted earnings of $8 a share on $4.03 billion in revenue.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

July 31, 2024 17:06 ET (21:06 GMT)

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