Lam Research, a leading semiconductor equipment manufacturer, has posted revenue of $3.79 billion during the first-quarter of 2024 as compared with $3.869 million in Q1 2023.
Lam Research has generated 42 percent of its sales revenue from China, 24 percent from Korea, 9 percent from Japan, 9 percent from Taiwan, 6 percent from the United States, 5 percent from South East Asia and 5 percent from Europe.
Lam Research’s gross margin was $1,801 million, or 47.5 percent of revenue, operating expenses were $743 million, operating income was 27.9 percent of revenue, and net income was $966 million, or $7.34 per diluted share.
“As our customers address the challenges in scaling semiconductors to meet the power and speed requirements for driving AI transformation, Lam is strengthening its leadership and is well-positioned for the significant opportunities ahead,” Tim Archer, Lam Research’s President and Chief Executive Officer, in its earnings report, said.
The Fremont, California-based Lam Research has revealed the growth in the first-quarter revenue was fueled by increased orders for its equipment used in manufacturing semiconductors for artificial intelligence applications.
Lam Research expects revenue to range around $3.8 billion for the current quarter ending June 30. This is substantially low as Lam Research had reported $5.2 billion in sales during the December quarter of 2022.
TelecomLead.com News Desk
