Lam Research Corporation (LRCX) delivered a strong performance in the first quarter, exceeding analysts’ expectations on both earnings and revenue. The company reported quarterly earnings of 86 cents per share, surpassing the consensus estimate of 80 cents. Revenue for the quarter came in at $4.17 billion, beating the analyst consensus of $4.051 billion and representing an increase from $3.482 billion in the same period last year.
The company’s success can be attributed to its strong execution and its strategic investments in key technology areas. Notably, Lam Research highlighted the importance of etch and deposition technologies in enabling the next generation of semiconductors. These investments position the company for continued growth, with expectations to outperform wafer fabrication equipment (WFE) growth in 2025 and beyond.
“With continued strong execution, Lam delivered financial performance ahead of expectations,” said Tim Archer, Lam Research’s CEO. “Looking forward, etch and deposition are fundamental to enabling the next generation of semiconductors. Our investments in key technology inflections position us well to outperform WFE growth in 2025 and beyond.”
Looking ahead, Lam Research is projecting strong growth for the second quarter. The company anticipates adjusted earnings of 87 cents per share, plus or minus 10 cents, and revenue of $4.3 billion, plus or minus $300 million. This positive outlook further strengthens Lam Research’s position as a leading player in the semiconductor equipment market.
Following the release of its earnings report, Lam Research shares surged 4.89% after-hours, reaching $76.36 at the time of publication. This positive market reaction reflects investor confidence in the company’s continued growth trajectory and its strategic positioning within the semiconductor industry.
