---
schema_version: "secwatch.filing_event.v1"
accession: "0000707549-23-000005"
form_type: "8-K"
ticker: "LRCX"
cik: "0000707549"
company_name: "LAM RESEARCH CORP"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:58:17.280504+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lam Research posts Q2 revenue $5.28B, EPS $10.77; Q3 guidance sharply lower, cuts 1300 jobs.

## Summary
- GAAP diluted EPS $10.77 on revenue $5.28B; non-GAAP diluted EPS $10.71.
- Q3 FY2023 guidance: revenue $3.8B ±$300M, non-GAAP EPS $6.50 ±$0.75.
- Workforce reduction of ~1,300 positions (~7% of employees); ~$80M charges in March 2023 quarter.
- Deferred revenue fell to $1.98B from $2.76B sequentially, signaling declining backlog.
- System revenue $3.55B; China 24%, Korea 20%, Taiwan 19% of total revenue.

## SEC filing metadata
- accession: 0000707549-23-000005
- form_type: 8-K
- ticker: LRCX
- cik: 0000707549
- company_name: LAM RESEARCH CORP
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/0000707549-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/lrcx-20230123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000707549-23-000005
- JSON: https://secwatch.observer/filing/0000707549-23-000005.json
- Plain text: https://secwatch.observer/filing/0000707549-23-000005.txt

## Key facts
- Earnings Releases
  LAM RESEARCH CORP reported the quarter ended March 26, 2023 results: revenue $3.8 Billion +/- $300 Million, EPS $5.95 +/- $0.75. Guidance initiated.
  - Period: the quarter ended March 26, 2023
  - Revenue: $3.8 Billion +/- $300 Million
  - EPS: $5.95 +/- $0.75
  - Guidance: initiated
  - Result: guidance update
  source text: Outlook For the quarter ended March 26, 2023, Lam is providing the following guidance: U.S. GAAP Reconciling Items Non-GAAP Revenue $3.8 Billion +/- $300 Million — $3.8 Billion +/- $300 Million Gross margin as a percentage of revenue 42.8% +/- 1% $ 45 Million 44.0% +/- 1% Operating income as a percentage of revenue 25.3% +/- 1% $ 84 Million 27.5% +/- 1% Net income per diluted share $5.95 +/- $0.75 $ 74 Million $6.50 +/- $0.75
  evidence_url: https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/0000707549-23-000005-index.htm
- Earnings Releases
  LAM RESEARCH CORP reported the quarter ended December 25, 2022 results: revenue $5,278 million, net income $1,469 million, EPS $10.77 per diluted share.
  - Period: the quarter ended December 25, 2022
  - Revenue: $5,278 million
  - Net income: $1,469 million
  - EPS: $10.77 per diluted share
  - Result: reported results
  source text: For the December 2022 quarter, revenue was $5,278 million, gross margin was $2,376 million, or 45.0% of revenue, operating expenses were $696 million, operating income was 31.8% of revenue, and net income was $1,469 million, or $10.77 per diluted share on a U.S. GAAP basis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/0000707549-23-000005-index.htm
- Restructurings & Charges
  LAM RESEARCH CORP announced a restructuring with charges of approximately $80.0 million (approximately 1,300 employee positions, which is approximately 7% of the Company's total number of employees).
  - Type: restructuring
  - Charge: approximately $80.0 million
  - Headcount: approximately 1,300 employee positions, which is approximately 7% of the Company's total number of employees
  source text: On January 23, 2023, the Company commenced a workforce reduction that is intended to better align the Company’s cost structure with its outlook for the current economic environment and future business opportunities (the “Restructuring Plan”). The Company expects the Restructuring Plan to entail a workforce reduction of approximately 1,300 employee positions, which is approximately 7% of the Company’s total number of employees. This Restructuring Plan is expected to be substantially completed by the end of the quarter ending June 25, 2023, but the timing of actions may vary by country based on local legal requirements. The Restructuring Plan is expected to result in total charges of approximately $80.0 million, to be incurred during the quarter ending March 26, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/0000707549-23-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.