Lam Research Q3 2024 Adj EPS $7.79 Beats $7.30 Estimate, Sales $3.793B Beat $3.724B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lam Research (LRCX) reported Q3 2024 adjusted earnings of $7.79 per share, surpassing the consensus estimate of $7.30. Quarterly sales reached $3.793 billion, also beating estimates of $3.724 billion but marking a 1.99% decrease from the previous year.
April 24, 2024 | 8:07 pm
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Lam Research reported higher-than-expected Q3 2024 earnings and sales, with adjusted EPS at $7.79 and sales of $3.793 billion.
Beating both earnings and sales estimates typically leads to positive investor sentiment and can result in a short-term stock price increase. The reported decrease in year-over-year sales might temper the positive impact slightly, but the overall beat on expectations is likely to be the dominant factor in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100