Lam Research Q2 revenue and EPS beat expectations

Lam Research

28/01/2026 21:14

Overview

Semiconductor equipment supplier's Q2 revenue rose, beating analyst expectations

Adjusted EPS for Q2 beat analyst expectations

Company's cash balances decreased due to capital return activities

Outlook

Lam Research expects for the quarter ending March 29, 2026 revenue of $5.70 bln +/- $300 mln

Company anticipates for the quarter ending March 29, 2026 GAAP gross margin of 49.0% +/- 1%

Lam Research forecasts for the quarter ending March 29, 2026 EPS of $1.35 +/- $0.10

Result Drivers

AI DEMAND - Co noted AI is accelerating demand for its products, supporting customer growth and multi-year outperformance

REGIONAL PERFORMANCE - Revenue distribution shows strong performance in China, Taiwan, and Korea, contributing significantly to overall revenue

CAPITAL EXPENDITURES - Decrease in cash balances primarily due to capital return activities and capital expenditures

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$5.34 bln
$5.24 bln (23 Analysts)
Q2 Adjusted EPS
Beat
$1.27
$1.17 (23 Analysts)
Q2 EPS
$1.26
Q2 Adjusted Gross Margin
49.70%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

Wall Street's median 12-month price target for Lam Research Corp is $233.00, about 2.3% below its January 27 closing price of $238.46

The stock recently traded at 43 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release: ID:nPn2lsyGWa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)