Lam Research Stock Dips After Q4 Results, Q1 Guidance
Portfolio Pulse from Erica Kollmann
Lam Research Corporation (NASDAQ:LRCX) shares dipped after reporting Q4 earnings that beat estimates but provided mixed Q1 guidance. The company reported Q4 earnings of $7.78 per share and sales of $3.87 billion, both above analyst expectations. However, Q1 earnings guidance of $7.25 to $8.75 per share and revenue guidance of $3.75 billion to $4.35 billion were mixed compared to estimates.
July 31, 2024 | 8:47 pm
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Lam Research reported Q4 earnings of $7.78 per share and sales of $3.87 billion, both above analyst expectations. However, Q1 earnings guidance of $7.25 to $8.75 per share and revenue guidance of $3.75 billion to $4.35 billion were mixed compared to estimates. Shares dipped 2.09% after-hours.
Despite beating Q4 earnings and sales estimates, Lam Research's mixed Q1 guidance led to a 2.09% dip in after-hours trading. The market likely reacted to the uncertainty in the Q1 outlook, which could impact short-term stock performance.
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