Lam Research: Fiscal Q4 Earnings Snapshot

July 27, 2022 GMT

FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal fourth-quarter net income of $1.21 billion.

On a per-share basis, the Fremont, California-based company said it had profit of $8.74. Earnings, adjusted for non-recurring costs, came to $8.83 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $7.31 per share.

The semiconductor equipment maker posted revenue of $4.64 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $4.21 billion.

For the year, the company reported profit of $4.61 billion, or $32.75 per share. Revenue was reported as $17.23 billion.

For the current quarter ending in October, Lam Research expects its per-share earnings to range from $8.75 to $10.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $8.90.

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The company said it expects revenue in the range of $4.6 billion to $5.2 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $4.66 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LRCX at https://www.zacks.com/ap/LRCX