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Lam Research forecasts strong quarterly results on chipmaking tool demand
['Wed', 'January At Pm Gmt', 'Min Read']
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Jan 28 (Reuters) - Lam Research forecast third-quarter revenue above Wall Street expectations on Wednesday, as enterprises ramped up orders of its chipmaking tools.
Rising demand for advanced AI applications has boosted product orders for companies such as Lam Research, which makes machines and devices capable of manufacturing powerful semiconductors that power such applications.
Lam forecast third-quarter revenue of $5.7 billion, plus or minus $300 million, compared with estimates of $5.34 billion, according to data compiled by LSEG.
For the second quarter, its revenue came in at $5.34 billion, beating estimates of $5.26 billion.
Lam earned $1.27 per share on an adjusted basis during the quarter, compared with estimates of profit of $1.17 per share.