Lam Research reports June-quarter revenue of $6.72 billion, up 15.1%

Lam Research reported results on July 29, 2026, for the quarter ended June 28, 2026. Revenue was $6.72 billion, up 15.1% from $5.84 billion in the quarter ended March 29, 2026. On a U.S. GAAP basis, net income was $2.28 billion, or $1.81 per diluted share, compared with $1.83 billion, or $1.45 per diluted share, in the quarter ended March 29, 2026.

On a U.S. GAAP basis, gross margin was 51.7% of revenue and operating margin was 37.4%. On a non-GAAP basis, gross margin was 52.0%, operating margin was 38.4%, and diluted EPS was $1.82. Non-GAAP results exclude intangible asset amortization from business combinations, elective deferred compensation effects, amortization of note discounts, workforce optimization charges, and the tax effect of these items.

The company said it also expects gross margin of 52.0%, plus or minus 1%, and operating margin of 39.5%, plus or minus 1%, on both a U.S. GAAP and non-GAAP basis. Lam Research said it expects U.S. GAAP diluted EPS of $2.15, plus or minus $0.15, on a diluted share count of 1.255 billion.

The company said the outlook is its estimate as of July 29, 2026, and does not reflect business combinations, divestitures, financing arrangements or other items completed after that date. It said actual results will vary from this model. It said the variations may be material.

Cash, cash equivalents, and restricted cash balances rose to $5.60 billion at the end of the quarter, from $4.77 billion at the end of the quarter ended March 29, 2026. The company said the increase was mainly driven by cash from operating activities, partly offset by cash used for capital return activities. Deferred revenue rose to $2.43 billion from $2.22 billion.