Lam Research (LRCX.US) Q1 revenue surged 54% year-on-year to a record high; results and guidance only slightly exceeded expectations

According to Zhitong Finance APP, after the US stock market closed on Wednesday, October 21, Lam Research (LRCX.US) announced its financial results for the first quarter of fiscal year 2027, ending September 27, 2026. The financial report showed that the company's revenue for the quarter was $8.219 billion, a year-on-year increase of 54% and a quarter-on-quarter increase of 22%, reaching a record high for a single quarter and exceeding analysts' general expectation of $8.153 billion. Under GAAP, net profit increased by 76% year-on-year to $2.753 billion; diluted earnings per share were $2.19; gross margin rose by 60 basis points quarter-on-quarter to 52.3%; operating margin increased by 260 basis points quarter-on-quarter to 40.0%. Under Non-GAAP, diluted earnings per share were $2.20, better than analysts' general expectation of $2.18.