Lam Research's (LRCX) Q2 Earnings Beat, Revenues Down Y/Y

Lam Research Corporation (LRCX) delivered second-quarter fiscal 2024 non-GAAP earnings of $7.52 per share, which surpassed the Zacks Consensus Estimate by 6.5%. The figure decreased by 29.8% from the year- ago fiscal quarter’s reading. Revenues of$ 3.76 billion surpassed the Zacks Consensus Estimate of $3.71 billion. The figure declined by 28.8% year over year. This was primarily attributed to weakness in the systems business due to sluggish memory spending. Lam Research’s system revenues were$ 2.29 billion ...