Lam Research Q1 revenue $4.17B; GAAP EPS $0.86, ahead of expectations

LAM RESEARCH CORP

2025-Q1 EPS reported $0.86 revenue$4,167,976,000

Revenue $4.17B, +8% QoQ; GAAP diluted EPS $0.86 (+10% QoQ); non-GAAP EPS $0.86 (+6% QoQ).
GAAP gross margin 48.0%; operating margin 30.3%.
Deferred revenue rose to $2.05B from $1.55B; Japan shipments in inventory ~$184M.
Q4 guidance: revenue ~$4.3B ±$300M; non-GAAP EPS ~$0.87 ±$0.10.
China was 37% of revenue; CEO cites strong execution and positioning for 2025.

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