Lam Research Corp. reported stronger-than-expected 3Q results as revenues jumped 47% to $3.18 billion year-over-year and surpassed analysts’ expectations of $3.11 billion. The company’s top-line mainly benefited from increased demand for memory chips across personal computers, storage and networking categories driven by COVID-19 pandemic-led remote working and online learning trend.Lam’s (LRCX) 1Q adjusted EPS spiked 78.3% to $5.67 year-on-year and beat Street estimates of $5.19. “Lam generated outstanding results in the September quarter with record revenues and earnings per share,” said Lam’s CEO Tim Archer. “Our strong operational execution is enabling the Company to meet our customers’ critical needs, providing …read more
Source:: Yahoo Finance
