Lam Research Corporation (NASDAQ:LRCX) Reports USD 8 Billion Quarter as Chip Equipment Margins Rise

Aditi Sarkar

10 November 2026 02:59 PM AEDT

Lam Research Corporation (NASDAQ:LRCX) Reports USD 8 Billion Quarter as Chip Equipment Margins Rise

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Highlights

Lam Research generated USD 8.22 billion in September-quarter revenue, increasing 22% from the June quarter.
GAAP gross Margin reached 52.3%, while GAAP Operating Margin increased to 40.0% of revenue.
GAAP Diluted Earnings per Share increased to USD 2.19 from USD 1.81 in the preceding quarter.
Non-GAAP operating margin reached 40.2%, with non-GAAP diluted earnings per share of USD 2.20.

Lam Research Corporation (NASDAQ:LRCX) has reported developments spanning several priorities. A sequential increase in semiconductor equipment Revenue accompanied improved quarterly profitability at Lam Research. Its shares closed at USD 221.31 on November 9, 2026, moving +10.41% on the day, with Market Capitalisation of USD 276.45 billion. The latest announcements combine reported operating results with planned Business milestones, which remain distinct from completed achievements.

September-Quarter Revenue Advances 22%

Lam Research reported revenue of USD 8.22 billion for the quarter ended September 27, 2026, compared with USD 6.72 billion for the preceding June quarter. The sequential increase was 22%.

The company supplies semiconductor Manufacturing equipment, including technologies used in wafer fabrication. Its latest results reflect equipment activity during the September reporting period and should not be conflated with a calendar-year annual result.

Margins Improve Across Reporting Bases

GAAP gross margin improved to 52.3% from 51.7% in the preceding quarter, an increase of 60 basis points. GAAP operating margin rose to 40.0% from 37.4%, an improvement of 260 basis points.

The gross margin and operating margin measures indicate the portion of revenue retained after different cost categories and therefore should be read separately.

Earnings per Share Track Higher Operating Income

GAAP diluted earnings per share reached USD 2.19, up from USD 1.81 in the June quarter, an increase of 21%. On a non-GAAP basis, gross margin was 52.4%, compared with 52.0% in June, while non-GAAP operating margin increased to 40.2% from 38.4%.

Non-GAAP diluted EPS was USD 2.20 versus USD 1.82 a quarter earlier. The adjusted figures exclude specified items under the company's reconciliation and should not replace its GAAP disclosures.

Attention Shifts to Equipment Delivery and Mix

Lam Research's subsequent results will measure the sustainability of revenue activity, the mix of semiconductor process equipment delivered and related profitability. The company had reported its September-quarter financial outcomes by October 21.

Any future changes in wafer fabrication spending or customer Investment remain uncertain and are not implied by the historical quarterly growth. Its financial reporting will provide the next confirmed milestones.

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