The company reported adjusted earnings per diluted share of $4.01, on revenue of $2.58 billion. The company had been expected to report earnings of $3.85 a share on sales of $2.5 billion, based on a FactSet survey of 20 analysts.
In the same period a year ago, the company posted earnings of $3.87 a share on sales of $2.5 billion. It reported a net income of $533.4 million.
The company had offered guidance of $3.60 - 4.00 a share on Oct. 24. Shares have risen 13.6% since then.
“Lam closed out calendar 2019 with strong December quarter results,” Tim Archer, Lam Research’s president and chief executive officer, said in a statement. “We are executing at a high level in an improving wafer fabrication equipment environment and building a powerful pipeline of new products to fuel future growth.”
For the upcoming quarter, Lam forecast non-GAAP earnings per share of $4.55 plus or minus 40 cents on revenue of $2.8 billion. Analysts are forecasting adjusted earnings of $3.98 a share on sales of $2.6 billion.
Shares of Lam rose $14.78, or 5%, to $313.00 in after-hours trading.
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