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Mar 31, 2024
Lam Research Q3 2024 Earnings Report
Lam Research reported solid revenue and earnings per share for Q3 2024.
Key Takeaways
Lam Research Corporation reported revenue of $3.79 billion and a GAAP diluted EPS of $7.34 for the quarter ended March 31, 2024. The company is strengthening its leadership and is well-positioned for future opportunities.
Revenue of $3.79 billion.
U.S. GAAP gross margin of 47.5%, U.S. GAAP operating income as a percentage of revenue of 27.9%, and U.S. GAAP diluted EPS of $7.34.
Non-GAAP gross margin of 48.7%, non-GAAP operating income as a percentage of revenue of 30.3%, and non-GAAP diluted EPS of $7.79.
Cash and cash equivalents, short-term investments, and restricted cash and investments balances increased slightly to $5.7 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the quarter ended June 30, 2024, Lam is providing revenue guidance of $3.8 Billion +/-$300 Million, gross margin as a percentage of revenue of 46.7%+/-1% (U.S. GAAP) and 47.5%+/-1% (Non-GAAP), operating income as a percentage of revenue of 28.3%+/-1% (U.S. GAAP) and 29.5%+/-1% (Non-GAAP), and net income per diluted share of $7.20+/-$0.75 (U.S. GAAP) and $7.50+/-$0.75 (Non-GAAP).
Positive Outlook
- Revenue: $3.8 Billion +/-$300 Million
- Gross margin as a percentage of revenue: 46.7%+/-1% (U.S. GAAP)
- Gross margin as a percentage of revenue: 47.5%+/-1% (Non-GAAP)
- Operating income as a percentage of revenue: 28.3%+/-1% (U.S. GAAP)
- Operating income as a percentage of revenue: 29.5%+/-1% (Non-GAAP)
Challenges Ahead
- Net income per diluted share: $7.20+/-$0.75 (U.S. GAAP)
- Net income per diluted share: $7.50+/-$0.75 (Non-GAAP)
- Diluted share count: 131 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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