Lam Research (LRCX) reported earnings on Wed 23 Oct 19 (a/h)

** charts after earnings **

Lam Research beats by $0.16, reports revs in-line; guides Q2 EPS above consensus, revs above consensus

Reports Q1 (Sep) earnings of $3.18 per share, $0.16 better than the S&P Capital IQ Consensus of $3.02; revenues fell 7.1% year/year to $2.17 bln vs the $2.17 bln S&P Capital IQ Consensus.

• Non-GAAP gross margin of 45.4%, non-GAAP operating income as a percentage of revenue of 25.5%

Co issues upside guidance for Q2, sees EPS of $3.60-4.00, excluding non-recurring items, vs. $3.14 S&P Capital IQ Consensus; sees Q2 revs of $2.35-2.65 bln vs. $2.2 bln S&P Capital IQ Consensus.