Semiconductor equipment maker Lam Research Corp. (LRCX) Wednesday reported third-quarter net income of $19 million or $0.11 per share, sharply down from $45.6 million or $0.38 per share last year.
Excluding items, adjusted earnings for the quarter were $74.5 million or $0.44 per share.
Revenues for the quarter were $845 million, compared to $656 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.37 per share on revenues of $838.33 million for the quarter. Analysts' estimates typically exclude special items.
Results were impacted by gross margin that fell to 40.2 percent from 40.5 percent a year ago, and operating margin worsened to 1.3 percent from 8.8 percent.
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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.