Lam Research Shares Fall 11.76% After CFO Forecasts Lower China Revenue Share
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Lam Research shares fell 11.76% to $230.15 Thursday after Chief Financial Officer Douglas Bettinger forecast a smaller China revenue share for the company’s December quarter. The stock’s 4 p.m. ET close on Oct. 22 was down $30.66 on the session. The move came one day after Lam published its quarterly results and December-quarter outlook . Revenue rose from $6.722 billion for the quarter ended June 28 to $8.219 billion for the period ended Sept. 27, an increase of about 22%. Diluted earnings were $2.19 per share under U.S.
Source: TokenPost
