Q3 25 EPS
$1.04
BEAT +4.05%
Est. $1.00
Q3 25 Revenue
$4.72B
BEAT +1.72%
Est. $4.64B
vs S&P Since Q3 25
+433.9%
BEATING MARKET
LRCX +471.9% vs S&P +38.1%
Market Reaction
Did LRCX Beat Earnings? Q3 2025 Results
Lam Research closed out its fiscal third quarter on a high note, posting revenue of $4.72 billion, a 24.4% year-over-year increase that cleared the $4.64 billion consensus estimate by 1.72%, while non-GAAP diluted EPS of $1.04 came in 4.05% above the… Read more Lam Research closed out its fiscal third quarter on a high note, posting revenue of $4.72 billion, a 24.4% year-over-year increase that cleared the $4.64 billion consensus estimate by 1.72%, while non-GAAP diluted EPS of $1.04 came in 4.05% above the $1.00 consensus. The primary engine behind the quarter's strength was a surge in systems revenue to $3.04 billion, reflecting intensifying demand for deposition and etch equipment as customers push deeper into advanced memory and foundry logic production. Gross margins reached 49.0% on both a GAAP and non-GAAP basis, with operating leverage driving meaningful sequential margin expansion across the board. The company, widely viewed as a compelling pick among leading semiconductor equipment stocks, generated $1.31 billion in operating cash flow during the quarter. Looking ahead, Lam guided June quarter revenue to approximately $5.00 billion, with non-GAAP EPS of $1.20 and non-GAAP gross margin of 49.5%, signaling continued sequential acceleration despite acknowledged near-term tariff-related uncertainty.
Key Takeaways
- • Systems revenue growth of 16% sequentially driven by leading-edge equipment demand
- • Gross margin expansion of 160 bps QoQ to 49.0% reflecting favorable product mix
- • Increasing deposition and etch intensity in production of advanced semiconductors
- • Strong demand across major geographies including Korea, Taiwan, and China
LRCX YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
LRCX Revenue by Segment
With YoY comparisons, source: SEC Filings
LRCX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Lam's portfolio is the most compelling it's ever been, driving opportunities to expand our addressable market, gain share, and deliver innovative services as deposition and etch intensity increases in the production of advanced semiconductors.”
— Tim Archer, Q3 2025 Earnings Press Release
LRCX Earnings Trends
LRCX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LRCX EPS Trend
Earnings per share: estimate vs actual
LRCX Revenue Trend
Quarterly revenue: estimate vs actual
LRCX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $1.36 | $1.47 | +7.87% | $5.84B | +1.49% |
| Q2 26 BEAT | $1.17 | $1.27 | +8.70% | $5.34B | +2.01% |
| Q1 26 BEAT | $1.22 | $1.26 | +3.27% | $5.32B | +1.79% |
| Q4 25 BEAT FY | $1.21 | $1.33 | +10.35% | $5.17B | +3.34% |
| FY Full Year | $4.02 | $4.15 | +3.29% | $18.44B | +0.87% |
| Q3 25 BEAT | $1.00 | $1.04 | +4.05% | $4.72B | +1.72% |