Lam Research LRCX Beats Q4 2026 EPS by 8% With Strong AI Chip Demand
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Lam Research extended its five-quarter beat streak with a 8.1% EPS surprise as systems revenue surged 24% year-over-year, and the company just guided September quarter revenue to $8.10 billion, signaling a 20% sequential jump that puts it on track for a third consecutive year of outperformance amid accelerating AI-driven chip manufacturing demand.
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Lam Research reported Q4 2026 earnings per share of $1.82, clearing the $1.68 consensus estimate by roughly 8% and extending the company's beat streak to five consecutive quarters. Revenue came in at $6.72 billion, just ahead of the $6.67 billion analysts had expected. Systems revenue was a particular standout, surging 24% year-over-year as chipmakers continue to ramp capacity to meet AI-driven demand.
The beat is part of a clear upward trajectory in LRCX's results. EPS has climbed from $0.86 in Q1 2025 to $1.82 this quarter, and the company has topped consensus estimates in every single period along the way. That consistency across eight quarters signals that demand for Lam's deposition and etch equipment is not a one-quarter phenomenon — it reflects a sustained capital spending cycle in advanced chip manufacturing.
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Looking ahead, Lam guided September quarter revenue to $8.10 billion, which would represent a roughly 20% sequential jump from the $6.72 billion just reported. If the company delivers on that target, it would mark a third consecutive year of outperformance, a milestone that underscores how central Lam's equipment has become to the AI semiconductor supply chain.
Mentioned: LRCX