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Lam Research (LRCX.US) Reports Q1 2026 Revenue of $5.32 Billion, Exceeding Estimates

GoAI StockTrace
GoAI StockTrace
2025年10月22日
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Lam Research (LRCX.US) announced strong financial results for the quarter ended September 28, 2025 (Q1 2026), reporting revenue of $5.32 billion. This figure represents a 3% sequential increase compared to the prior quarter, surpassing analyst estimates of $5.23 billion. Non-GAAP diluted EPS for the quarter was $1.26, a 5% decrease quarter-over-quarter, which also exceeded analyst expectations of $1.21.

Strong Segment Performance

During the September 2025 quarter, systems revenue contributed significantly, reaching $3.55 billion. This marks a 3.2% increase from the previous quarter's $3.44 billion, highlighting robust sales of new leading-edge equipment.

 

Customer support-related revenue also demonstrated solid performance, growing to $1.78 billion from $1.73 billion in the June 2025 quarter, a 2.5% sequential increase. This growth was driven by sales of customer service, spares, upgrades, and non-leading-edge equipment.

 

Management Outlook

For the quarter ending December 28, 2025, Lam Research provided a revenue guidance of approximately $5.20 billion, with a fluctuation range of +/-$300 million. The company anticipates a non-GAAP diluted EPS of approximately $1.15, with a range of +/-$0.10.

 

CEO Tim Archer highlighted that Lam's innovations are instrumental in assisting customers with major AI-driven semiconductor manufacturing inflections. He emphasized the company's strong execution and expanding portfolio, positioning it well for continued growth in a dynamic environment.

 

Balance Sheet and Cash Flow Strength

Cash, cash equivalents, and restricted cash balances rose to $6.7 billion by the end of the September 2025 quarter, up from $6.4 billion in the prior quarter. This increase was primarily due to strong cash generation from operating activities.

 

Deferred revenue also saw an increase, reaching $2.77 billion at quarter-end, compared to $2.68 billion at the end of June 2025. This indicates a healthy pipeline for future revenue recognition.