By Jeffrey T. LewisLam Research Corp.'s profit declined in its third quarter from a year earlier and fell short of market expectations as sales declined. Earnings per share was $6.01 versus $7.30 a year earlier, and adjusted earnings per share fell to $6.99 from $7.40. The company had revenue of $3.87 billion in the quarter, down from $4.06 billion a year earlier. The sales figure beat market expectations, while profit came up short. The median forecast by analysts surveyed by FactSet was for revenue of $3.82 billion in the quarter and net income of $848 million.

Source: Wall Street Journal April 20, 2023 02:54 UTC