Lam Research Corp. shares slipped in the extended session Wednesday even after the wafer-fab-equipment market’s results topped Wall Street expectations but its earnings forecast midpoint was a penny more than the consensus estimate.
The company reported fiscal first-quarter net income of $887.4 million, or $6.66 a share, down from $1.43 billion, or $10.39 a share, in the year-ago period. Adjusted earnings fell to $6.85 a share from $10.42 in the year-ago period. The company said it expects fiscal second-quarter earnings of $6.03 to $7.53 a share on revenue of $3.4 billion to $4 billion.
“Lam continues to deliver strong results despite a cyclically soft year for wafer fabrication equipment spending,” said Tim Archer, Lam Research’ chief executive, in a statement. “There are tremendous growth vectors ahead for Lam, and we are investing strategically to drive long-term outperformance.”
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »
La source: MarketWatch - 🏆 3. / 97 Lire la suite »