Lam Research Corporation: Beat — EPS $2.20, Revenue $8.22B
Earnings BeatQ1 2027 · After-market
@trystockwhiz
Did Lam Research Corporation (LRCX) beat earnings today?
Yes, Lam Research Corporation (LRCX) beat Wall Street analyst expectations for Q1 2027, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+0.92% surprise
$2.20Actual
Expected: $2.18
Total Revenue+0.98% surprise
$8.22BActual
Expected: $8.14B
vs. year ago +54.4%
Released Oct 21 · 4:05 PM ET
Earning Report
| Metric | Q1 FY27 | Q1 FY26 | YoY Change % |
|---|---|---|---|
| Revenue | $8.22B | $5.32B | +54.4% |
| Revenue detail — reported lines | |||
| └─Systems revenue | $5.73B | $3.55B | +61.6% |
| └─Customer support-related revenue and other | $2.49B | $1.78B | +40.0% |
| GAAP Basic EPS | $2.20 | $1.24 | +77.4% |
| GAAP Diluted EPS | $2.19 | $1.24 | +76.6% |
| Non-GAAP Diluted EPS | $2.20 | - | - |
| Net income | $2.75B | $1.57B | +75.5% |
Financial Outlook / Guidance
| Metric | Q2 FY27 Outlook | Full Year Outlook |
|---|---|---|
| Revenue | $8.60B +/- $400M | — |
| GAAP Gross margin | 52.5% +/- 1% | — |
| Non-GAAP Gross margin | 52.5% +/- 1% | — |
| GAAP Operating margin | 40.5% +/- 1% | — |
| Non-GAAP Operating margin | 40.5% +/- 1% | — |
| GAAP Net income per diluted share | $2.33 +/- $0.15 | — |
| Non-GAAP Net income per diluted share | $2.33 +/- $0.15 | — |
| Diluted share count | 1.253B | — |
Business Highlights
- ➤Strategic investments in technology inflections and manufacturing capacity continued.
- ➤Systems revenue included leading-edge equipment for deposition, etch, clean, and other wafer-fabrication markets.
- ➤Customer support-related offerings included services, spares, upgrades, and Reliant® non-leading-edge equipment.
- ➤Returned $1,024.965M through treasury stock purchases, including excise tax payments.
- ➤Paid $325.402M in dividends during the quarter.
- ➤Lam is a global supplier of wafer-fabrication equipment and services to the semiconductor industry.
- ➤Lam technology is used in nearly every advanced chip, according to the company.
Management Commentary
Tim Archer, President and Chief Executive Officer
“With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter. Our strategic investments in technology inflections and manufacturing capacity are paying off, strengthening our ability to outgrow the wafer fabrication equipment market as the industry expands.”