WASHINGTON (dpa-AFX) - Lam Research Corp. (LRCX) on Wednesday reported a fourth-quarter profit that increased from last year, as it reported record revenue driven by continued AI-related demand for semiconductor equipment.
Net income rose to $2.28 billion or $1.81 per share from $1.72 billion or $1.35 per share last year.
On an adjusted basis, net income was $2.28 billion or $1.82 per share, compared with $1.85 billion or $1.47 per share in the prior quarter.
For the quarter, revenue increased 30% to a record $6.72 billion from $5.17 billion a year earlier.
Gross margin improved to 51.7% from 50.1%, and operating margin rose to 37.4% from 33.7%.
Looking forward to the first quarter, Lam Research expects revenue of $8.10 billion, plus or minus $400 million. The company projects gross margin of 52.0%, plus or minus 1 percentage point, operating margin of 39.5%, plus or minus 1 percentage point, and earnings per share of $23.15, plus or minus $0.15.
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