Lam Research Corporation (NASDAQ: LRCX) released its financial results for the third quarter of 2024, showcasing strong performance that exceeded analyst expectations. The company reported an EPS of $7.79, significantly surpassing the consensus estimate of $7.29 by a margin of $0.50. This impressive result reflects Lam Research’s continued profitability and financial strength.
Additionally, Lam Research’s revenue for the quarter reached $3.79 billion, exceeding the consensus estimate of $3.72 billion. This growth in revenue highlights the company’s ability to capture market share and capitalize on industry trends. The company’s strong financial performance is further evidenced by the 21 positive EPS revisions and 0 negative EPS revisions it received in the last 90 days.
Regarding its outlook, Lam Research provided guidance for the fourth quarter of 2024, projecting revenue between $3.50 billion and $4.10 billion. While this range is slightly below the analyst consensus of $3.77 billion, it still indicates the company’s confidence in its future growth prospects.
It’s worth noting that Lam Research’s stock price has demonstrated a positive trend in recent months. It closed at $884.89 on the reporting date, marking a 5.46% increase over the past 3 months and an impressive 77.08% increase over the past 12 months. This upward trajectory reflects investor confidence in the company’s long-term prospects and its ability to deliver consistent financial results.
Overall, Lam Research’s third quarter 2024 financial performance and positive guidance for the fourth quarter demonstrate the company’s strong position in the industry. Its ability to exceed analyst estimates and maintain a positive stock price trend highlights its financial resilience and growth potential.
