Investing.com - Lam Research (NASDAQ:LRCX) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Lam Research announced earnings per share of $8.53 on revenue of $4.23B. Analysts polled by Investing.com anticipated EPS of $8.51 on revenue of $4.41B.
Lam Research shares are up 3% from the beginning of the year, still down 18.47% from its 52 week high of $731.85 set on January 4. They are outperforming the Nasdaq 100 which is down 13.16% from the start of the year.
Lam Research shares lost 9.16% 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 Microsoft on Tuesday, who reported EPS of $2.48 on revenue of $51.73B, compared to forecasts EPS of $2.31 on revenue of $50.65B.
Taiwan Semiconductor had beat expectations on January 13 with fourth quarter EPS of $1.16 on revenue of $15.85B, compared to forecast for EPS of $1.12 on revenue of $15.69B.
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