Lam Research (LRCX) Q3 Earnings Beat, Revenues Decline Y/Y

Lam Research Corporation (LRCX) delivered third-quarter fiscal 2024 non-GAAP earnings of $7.79 per share, which surpassed the Zacks Consensus Estimate by 7.3%. The figure increased 11.4% from the year-ago quarter.Revenues of $3.79 billion surpassed the Zacks Consensus Estimate of $3.70 billion. The figure declined 2% year over year. This was primarily attributed to weakness in the systems business due to sluggish memory spending.Lam Research’s system revenues were $2.39 billion (63% of the total revenues), ...