Investing.com - Lam Research (NASDAQ:LRCX) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Lam Research announced earnings per share of $8.09 on revenue of $4.15B. Analysts polled by Investing.com anticipated EPS of $7.59 on revenue of $4.03B.
Lam Research shares are up 57% from the beginning of the year, still down 5.71% from its 52 week high of $673.80 set on June 1. They are outperforming the S&P 500 which is up 17.17% from the start of the year.
Lam Research shares lost 2.97% in after-hours trade following the report.
Lam Research follows other major Information Technology sector earnings this month
Lam Research's report follows an earnings beat by Apple on Tuesday, who reported EPS of $1.3 on revenue of $81.43B, compared to forecasts EPS of $1.01 on revenue of $73.26B.
Microsoft had beat expectations on Tuesday with fourth quarter EPS of $2.17 on revenue of $46.15B, compared to forecast for EPS of $1.91 on revenue of $44.06B.
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