Lam Research sets record $8.22B revenue, EPS $2.19; guides Dec quarter to $8.60B

LAM RESEARCH CORP

Revenue $8.22B, up 22% QoQ and 54% YoY (Sept 2025 quarter: $5.32B); GAAP diluted EPS $2.19 vs $1.81 prior quarter, non-GAAP $2.20 vs $1.82.
GAAP gross margin 52.3% (+60 bps QoQ), operating margin 40.0% (+260 bps), net income $2.75B; non-GAAP operating margin 40.2%.
Systems revenue $5.73B vs $4.25B in June quarter; customer support-related revenue $2.49B. China 35% of revenue, Korea 20%, Taiwan 18%, US 8%.
December 2026 quarter guidance: revenue $8.60B +/- $400M, gross margin 52.5% +/- 1%, operating margin 40.5% +/- 1%, diluted EPS $2.33 +/- $0.15.
Cash and equivalents rose to $7.45B from $5.60B; deferred revenue $2.66B vs $2.43B. CEO Tim Archer cites AI-driven semiconductor demand and record profit.

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