Lam Research Corporation (LRCX), a provider of wafer fabrication equipment and services within the semiconductor sector, has announced a rise in net income to $1.19 billion for the quarter concluding on December 29, 2024.
For this quarter, the net income reached $1.19 billion, translating to $0.92 per share. This marks a 24.8% increase compared to $954.27 million or $0.72 per share recorded in the equivalent quarter of the previous year.
The quarterly revenue escalated to $4.37 billion, reflecting a 16.5% year-over-year increase from $3.76 billion. Adjusted net income during this period amounted to $1.17 billion, or $0.91 per share.
Looking ahead to the quarter ending March 30, Lam Research anticipates revenue of $4.65 billion, with an adjusted net income per share of $1.00.
On Wednesday, LRCX shares concluded trading at $75.15 on the Nasdaq, reflecting a 0.86% rise or $0.64 increase.
