Lam Research Reports Higher 2Q Profit, Says Supply-Chain Conditions Worsened in Late December
January 26 2022 - 4:49PM
Dow Jones News
By Maria Armental
Lam Research Corp. reported higher December-quarter profit and
revenue and company officials said supply-chain conditions worsened
in late December.
Second-quarter profit rose to $1.19 billion from $869.2 million
a year earlier. On a per-share basis, the profit was $8.44, or
$8.53 as adjusted.
Revenue for the quarter ended Dec. 26 rose to $4.23 billion from
$3.46 billion a year earlier.
Analysts surveyed by FactSet had projected $8.43 a share in
profit, or $8.52 a share as adjusted, on $4.41 billion in
revenue.
"Lam delivered record calendar year 2021 financial performance
within a robust wafer fabrication spending environment" Chief
Executive Tim Archer said in a statement, adding: "While supply
chain conditions worsened in late December and are causing
near-term impacts to our results, we expect wafer fabrication
equipment investments to again increase in calendar year 2022,
leading to another strong growth year for Lam."
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 26, 2022 16:34 ET (21:34 GMT)
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