Lam Research Corp. (LRCX) reported that its third-quarter net income was $45.6 million, or $0.38 per share, down from $182.24 million or $1.45 per share in the year ago quarter.
Non-GAAP net income for the latest-quarter was $60.6 million, or $0.50 per share. Operating income plunged to $58.12 million from $197 million in the year ago quarter.
Revenue for the period was $658.96 million, compared to revenue of $809.09 million last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share on revenues of $643.07 million for the quarter. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.