Lam Research Q1 FY2027: record $8.22 billion revenue, EPS of $2.19
Lam Research closed fiscal Q1 2027 with record revenue of $8.22 billion, up 54.4% from a year earlier, and net income of $2.75 billion. The quarter came in above the $8.10 billion midpoint the company had guided to, and earnings per share of $2.20 on a non-GAAP basis landed about a penny under the $2.2215 consensus. Below, the numbers that matter, read in plain English.
1 · Expected vs. Actual
Free preview belowGAAP EPS came in at $2.19 and non-GAAP at $2.20, roughly a penny below the $2.2215 consensus. Net income of $2.75 billion was a record even though income tax expense nearly doubled to $559.08 million from $277.86 million in the prior quarter. The gap between GAAP and non-GAAP is trivial here, coming from intangible amortization and deferred compensation items rather than anything structural.
Revenue of $8.22 billion rose 22.3% from the June quarter and 54.4% from the year-ago $5.32 billion. Systems revenue of $5.73 billion did nearly all the work, jumping from $4.25 billion a quarter earlier, while customer support revenue of $2.49 billion was essentially flat. That mix matters: this was a tool-selling quarter, not a services quarter.
Management guided the December quarter to $8.60 billion, plus or minus $400 million, which is 4.6% above revenue just reported. Gross margin is guided to 52.5% plus or minus 1%, a shade above the 52.3% delivered, with operating margin at 40.5% plus or minus 1%. EPS is guided to $2.33 plus or minus $0.15.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-23
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