LRCXEarnings

Lam Research Q2 FY2026 Results: Revenue $8.22B, EPS $2.19; Raises Q3 Guidance

Lam Research reported Q2 FY2026 revenue of $8.22 billion and non-GAAP EPS of $2.20, both record highs, with revenue growing 54% year-over-year and 22% sequentially from the prior quarter. The company guided Q3 FY2026 revenue of $8.60 billion (±$400 million), gross margin of 52.5% (±1%), operating margin of 40.5% (±1%), and EPS of $2.33 (±$0.15). The board raised the quarterly dividend by 27% to $0.33 per share. For Q3 FY2027 (quarter ending December 27, 2026), Revenue guidance is $8.20 billion-$9.00 billion (mid...

Published October 23, 2026 at 6:52 AM EDTLAM RESEARCH CORPInvestor relations

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Forward guidance

RevenueQ3 FY2027 (quarter ending December 27, 2026)

$8.20 billion - $9.00 billion

Non-GAAP gross marginQ3 FY2027

51.5% - 53.5%+2.6 pp implied Y/Y vs Q3 FY2026

Non-GAAP operating marginQ3 FY2027

39.5% - 41.5%+5.5 pp implied Y/Y vs Q3 FY2026

Non-GAAP diluted EPSQ3 FY2027

$2.18 - $2.48+58.5% implied Y/Y vs Q3 FY2026

Diluted share countQ3 FY2027

1.253 billion

Key takeaways

Revenue of $8.22 billion increased 54% year-over-year and 22% sequentially to a record high
U.S. GAAP operating margin expanded to 40.0% from 34.4% year-over-year and 37.4% in the prior quarter
Non-GAAP diluted EPS of $2.20 grew 76% year-over-year and 21% sequentially
Customer support-related revenue was $2.49 billion, relatively flat sequentially but up 40% year-over-year
China represented 35% of revenue, Korea 20%, Taiwan 18%, Japan 9%, United States 8%, Southeast Asia 6%, and Europe 4%
Q3 FY2027 guidance: revenue $8.60B (±$400M), gross margin 52.5% (±1%), operating margin 40.5% (±1%), EPS $2.33 (±$0.15)
Quarterly dividend raised 27% from $0.26 to $0.33 per share

Key metrics

RevenueQ2 FY2026 (quarter ended September 27, 2026)

$8.22 billion+54%

Systems revenueQ2 FY2026

$5.73 billion+62%

Customer support-related revenueQ2 FY2026

$2.49 billion+40%

U.S. GAAP net incomeQ2 FY2026

$2.75 billion+76%

Non-GAAP net incomeQ2 FY2026

$2.77 billion

U.S. GAAP diluted EPSQ2 FY2026

$2.19+77%

Non-GAAP diluted EPSQ2 FY2026

$2.20+76%

U.S. GAAP gross marginQ2 FY2026

52.3%+190 bps

Primary source

TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.

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