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Lam Research (LRCX) Reports Q2 Earnings: What Key Metrics Have to Say
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Lam Research (LRCX - Free Report) reported $3.76 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 28.8%. EPS of $7.52 for the same period compares to $10.71 a year ago.
The reported revenue represents a surprise of +1.30% over the Zacks Consensus Estimate of $3.71 billion. With the consensus EPS estimate being $7.06, the EPS surprise was +6.52%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lam Research performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Leading- and non-leading-edge equipment and upgrade Revenue - Memory: 48% versus 39.1% estimated by two analysts on average.
Leading- and non-leading-edge equipment and upgrade Revenue - Logic/integrated device manufacturing: 14% versus 26.1% estimated by two analysts on average.
Leading- and non-leading-edge equipment and upgrade Revenue - Foundry: 38% versus 34.8% estimated by two analysts on average.
Revenue- Customer support-related revenue and other: $1.46 billion compared to the $1.44 billion average estimate based on three analysts. The reported number represents a change of -15.7% year over year.
Revenue- Systems: $2.30 billion versus $2.27 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -35.2% change.
Shares of Lam Research have returned +8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Lam Research (LRCX) Reports Q2 Earnings: What Key Metrics Have to Say
Lam Research (LRCX - Free Report) reported $3.76 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 28.8%. EPS of $7.52 for the same period compares to $10.71 a year ago.
The reported revenue represents a surprise of +1.30% over the Zacks Consensus Estimate of $3.71 billion. With the consensus EPS estimate being $7.06, the EPS surprise was +6.52%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lam Research performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Leading- and non-leading-edge equipment and upgrade Revenue - Memory: 48% versus 39.1% estimated by two analysts on average.
- Leading- and non-leading-edge equipment and upgrade Revenue - Logic/integrated device manufacturing: 14% versus 26.1% estimated by two analysts on average.
- Leading- and non-leading-edge equipment and upgrade Revenue - Foundry: 38% versus 34.8% estimated by two analysts on average.
- Revenue- Customer support-related revenue and other: $1.46 billion compared to the $1.44 billion average estimate based on three analysts. The reported number represents a change of -15.7% year over year.
- Revenue- Systems: $2.30 billion versus $2.27 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -35.2% change.
View all Key Company Metrics for Lam Research here>>>Shares of Lam Research have returned +8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.