lrLam Research Corporation (NASDAQ: LRCX) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The comapny released its earnings for the third quarter, beating expectations and exciting investors. Of course, the news sent the stock on a run for the top. Today, we’ll talk about:
- The earnings;
- what we’re seeing from LRCX stock as a result; and
- what we’ll be watching for ahead.
LRCX Announces Earnings
As mentioned above Lam Research is having an incredibly strong start to the trading session this morning after the company released its earnings report. Of course, the report beat expectations. Here’s what we saw from the financial results:
- Earnings Per Share – In terms of earnings per share, LRCX did incredibly well. During the quarter, analysts expected that the company would generate earnings in the amount of $3.21 per share. However, the company actually reported earnings in the amount of $3.36 per share, blowing expectations out of the water.
- Revenue – In terms of revenue, LRCX did well yet again. During the quarter, the company said that it generated revenue in the amount of $2.33 billion. That figure came in just over 1% ahead of analyst expectations.
It’s also worth mentioning that the company has beaten earnings and revenue estimates consecutively over the past four quarters.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Lam Research, the news proved to be overwhelmingly positive. After all, earnings that come in ahead of expectations will just about always lead to excitement. So, it comes as no surprise that excited investors are sending the stock on a run for the top. At the moment (9:09), LRCX is trading at $154.40 per share after a gain of $0.13 per share or 6.28% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LRCX. In particular, we’re interested in seeing if the company can maintain its activity with regard to consecutively beating expectations with regard to both revenue and earnings. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!
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