Lam Research Q2 revenue $3.79B, GAAP EPS $7.34; guides Q3 revenue $3.8B ± $300M

LAM RESEARCH CORP

2024-Q3 EPS reported $21.22 revenue$11,033,879,000

GAAP revenue $3.79B (+0.9% QoQ), GAAP diluted EPS $7.34 (+1.7% QoQ).
Non-GAAP diluted EPS $7.79 (+3.6% QoQ); non-GAAP gross margin 48.7% (+110 bps QoQ).
China represented 42% of revenue; systems revenue $2.4B, customer support $1.4B.
Cash from operations $1.385B; $981M in share repurchases, $263M dividends paid.
Q3 (June 2024) guidance: revenue $3.8B ± $300M, non-GAAP EPS $7.50 ± $0.75.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LAM RESEARCH CORP reported the quarter ended March 31, 2024 results: revenue $3.79 billion, net income $966 million, EPS $7.34. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $3.79 billion
Net income: $966 million
EPS: $7.34
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended March 31, 2024 (the “March 2024 quarter”). Highlights for the March 2024 quarter were as follows: • Revenue of $3.79 billion. • U.S. GAAP gross margin of 47.5%, U.S. GAAP operating income as a percentage of revenue of 27.9%, and U.S. GAAP diluted EPS of $7.34.

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Source: SEC EDGAR

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