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Semiconductor company Lam Research (NASDAQ: LRCX ) has announced its financial results for the second quarter of 2023, reporting higher revenue and profit.
Adjuster earnings, excluding special items, advanced to $10.71 per share in the December quarter from $10.42 per share in the same period last year. Reported profit was $1.47 billion and $10.77 per share, higher than last year’s net income of $1.19 billion or $8.44 per share.
Driving underlying growth, revenue rose 25% year-on-year to $5.28 billion, with strong contributions from the Chinese and Korean markets.
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