Lam Research Posts Record $8.22 Billion in Quarterly Revenue

Lam Research posted record revenue of $8.219 billion for the fiscal quarter ended Sept. 27, while increasing its 2026 estimate for wafer-fab-equipment spending to the mid-$150 billion range.

Revenue climbed 22% from $6.722 billion in the June quarter and 54.4% from $5.324 billion a year earlier. Most of the sequential increase came from systems sales, which grew to $5.733 billion from $4.250 billion.

The customer-support-related revenue and other category totaled $2.487 billion, compared with $2.472 billion in June. Systems include equipment used in deposition, etch and clean processes. Lam also provides services, spare parts and upgrades, which fall within the customer-support-related revenue and other line. The figures show that systems accounted for most of the quarter-over-quarter gain as support-related revenue stayed nearly unchanged.

Net income under generally accepted accounting principles was $2.753 billion, or $2.19 per diluted share. Non-GAAP diluted earnings per share were $2.20. GAAP operating margin was 40.0%, while the non-GAAP margin was 40.2%.

CEO Tim Archer credited operational execution, saying it helped Lam deliver “record revenue, profit, and earnings per share.”

The quarter’s revenue was above the $8.10 billion midpoint of Lam’s earlier September-quarter forecast, which had a range of $400 million above or below the midpoint. The $8.219 billion result remained within that stated range.

Lam’s calendar 2026 wafer-fab-equipment spending outlook moved up from the low-$150 billion range it gave in July to the mid-$150 billion range. Its preliminary view for 2027 is above $200 billion. Those estimates cover industry equipment spending, separate from Lam’s own quarterly revenue and earnings forecasts. The quarter’s figures do not quantify how much of the growth was tied to AI-related demand.

For the quarter ending Dec. 27, Lam sees revenue at $8.60 billion, plus or minus $400 million, and non-GAAP diluted EPS at $2.33, plus or minus 15 cents.