Lam Research (LRCX) Revenue — Quarter Ended Dec 24, 2023
Revenue increased compared to the immediately preceding quarter but declined sharply when measured against the same period one year earlier. The sequential improvement suggests a recovery from recent lows, though the year-over-year contraction remains significant.
Key takeaway
Quarter ended Dec 24, 2023 · FY2024 Q2
Revenue increased compared to the immediately preceding quarter but declined sharply when measured against the same period one year earlier. The sequential improvement suggests a recovery from recent lows, though the year-over-year contraction remains significant.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.8B
Revenue reported for this quarter.
Quarter-over-quarter
+7.9%
Change from the immediately preceding quarter.
Year-over-year
-28.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 26, 2023 | $3.9B | -4.7% |
| Jun 25, 2023 | $3.2B | -30.8% |
| Sep 24, 2023 | $3.5B | -31.4% |
| Dec 24, 2023 | $3.8B | -28.8% |
Revenue performance
Revenue rose sequentially, reflecting a rebound, yet remained well below the level achieved a year ago. The sequential gain marks a second consecutive period of improvement.
Quarterly comparison
Compared to the preceding quarter, revenue advanced, continuing a positive trend. However, the year-over-year comparison showed a notable contraction.
What to watch
Monitor whether the sequential recovery can sustain and eventually close the gap with year-ago levels.