Lam Research Corp. reported first‑quarter fiscal 2026 results for the quarter ended September 28, 2025, posting revenue of $5.324 billion, up 3 % from the $5.171 billion reported in the prior quarter. Gross margin rose to 50.4 % of revenue, and operating income represented 34.4 % of revenue, while diluted earnings per share were $1.26, compared with $1.35 in the same period last year.
For the next quarter, the company guided revenue of $5.20 billion, +/- $300 million, with a gross margin of 48.4 % +/- 1 percentage point and an operating margin of 32.9 % +/- 1 percentage point. Net income per diluted share was projected at $1.15 +/- $0.10.
Lam’s results reflect continued demand for its etch and deposition tools driven by artificial‑intelligence chip production, with the company noting that its high‑intensity processes are a key differentiator in the market. The company also highlighted that its advanced packaging and NAND conversion capabilities are supporting the growth of its customer base.
While revenue and margin growth were modest, the guidance indicates a slight slowdown in the near term, suggesting that the company is anticipating a more competitive environment and a shift in customer spending. Nevertheless, Lam’s strong cash generation and investment in global manufacturing capacity position it to maintain its competitive edge in the semiconductor equipment market.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.