secwatch.observer — SEC 8-K summary
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Issuer:     LAM RESEARCH CORP (LRCX)
CIK:        0000707549
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0000707549-23-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/0000707549-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/707549/000070754923000005/lrcx-20230123.htm
  HTML page:      https://secwatch.observer/filing/0000707549-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer