Lam Research posts record September-quarter results and issues December guidance

Why it matters

The report increases Lam Research's reported revenue, profitability and earnings base, while the December-quarter guidance sets the near-term operating outlook for investors. CEO Tim Archer said AI-driven semiconductor demand and company investments supported the quarter, but that is management's view rather than an independent forecast.

Key facts

• 1September-quarter revenue was $8,219,418, a sequential increase of +22%. sec.gov
• 2September-quarter U.S. GAAP gross margin was 52.3%, U.S. GAAP operating margin was 40.0%, and U.S. GAAP diluted EPS was $2.19. sec.gov
• 3September-quarter non-GAAP gross margin was 52.4%, non-GAAP operating margin was 40.2%, and non-GAAP diluted EPS was $2.20. sec.gov
• 4Cash, cash equivalents, and restricted cash totaled $7.45 billion at the end of the September 2026 quarter, compared with $5.60 billion at the end of the June 2026 quarter. sec.gov
• 5For the quarter ending December 27, 2026, Lam guided to revenue of $8.60 Billion +/- $400 Million and net income per diluted share of $2.33 +/- $0.15. sec.gov
• 6The December-quarter guidance includes gross margin of 52.5% +/- 1% and operating margin of 40.5% +/- 1%. sec.gov

Open questions

• Secondary reports differ on whether the December-quarter outlook was above consensus, in line with expectations or disappointing; the primary company release provides the guidance figures but no consensus comparison.