Lam Research (NASDAQ:LRCX) shares rose more than 2% after-hours following the company’s reported Q4 earnings, with EPS of $5.98 coming in better than the consensus estimate of $5.11. Revenue fell 17% quarter-over-quarter to $3.21 billion, beating the consensus estimate of $3.16B.
CEO Tim Archer expressed satisfaction with Lam's performance in Q4, highlighting that the company achieved profitability levels that surpassed the guided ranges.
"With our investment in a broad, differentiated product portfolio targeted to key technology inflections and a solid foundation for productive collaboration with customers, Lam Research is well positioned to outperform as semiconductors continue to become more critical to the global economy," said Archer.
For Q1/24, the company expects EPS of $6.05 at the midpoint, compared to the consensus estimate of $5.60. Q1 revenue is expected to be $3.4B at the midpoint, compared to the consensus of $3.3B.