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Lam Blows Away Estimates
Lam Research(LRCX Quote) more than tripled its bottom line during its most recently completed quarter, handily outpacing Wall Street expectations.
The Freemont, Calif., chip-equipment company generated revenue of $604.4 million during the three months ended Sept. 24, compared with $320.9 million in sales at this time a year ago.
Net income surged to $183.5 million, or $1.27 a share, compared with $49.4 million, or 35 cents a share a year ago.
Shares of Lam jumped 5.6%, or $2.68, at $50.80 in extended trading. ...
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