Lam Research reported record-breaking fourth-quarter results that exceeded analyst expectations. The company achieved revenue of $6.72 billion and adjusted earnings of $1.82 per share. Strong demand for AI chip and memory manufacturing equipment drove the performance.
Management projected revenue of $8.1 billion for the upcoming quarter. This outlook significantly beat the consensus estimate of approximately $7.1 billion. Company shares surged over 17% in a single trading session following the news.