Investing.com - Lam Research 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 down 17% from the beginning of the year and are trading at $556.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 8.77% from the start of the year.
Lam Research shares lost 6.82% in after-hours trade 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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