By Roshan Fernandez

Lam Research reported higher profit and revenue in its latest quarter, driven by opportunities to expand its market share and increase the intensity of production for semiconductors.

The company, which makes and services equipment used for semiconductors, on Wednesday reported a third-quarter profit of $1.33 billion, or $1.03 a share, for the three months ended March 30, compared with $966 million, or 73 cents a share, in the same quarter a year ago.

Excluding one-time items, per-share earnings were $1.04, above the $1 a share that analysts were expecting, according to FactSet.

Revenue rose to $4.72 billion, within the company's previously issued guidance for the quarter. Analysts surveyed by FactSet had forecast sales of $4.64 billion. Revenue was $3.79 billion during the same period last year.

For the current quarter, Lam Research said it expects between $4.7 billion and $5.3 billion in revenue, and earnings per share between $1.10 and $1.30.

Analysts expected earnings of 98 cents a share on $4.59 billion in revenue in the current quarter, according to FactSet.

"Our outlook remains strong even as we address near-term tariff-related uncertainty, and we are highly confident in our ability to outperform semiconductor industry growth in the years to come," Chief Executive Tim Archer said.

Shares rose about 5.1%, to $69.99, in aftermarket trading.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

April 23, 2025 16:51 ET (20:51 GMT)

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