Q2 26 EPS
$1.27
BEAT +8.70%
Est. $1.17
Q2 26 Revenue
$5.34B
BEAT +2.01%
Est. $5.24B
vs S&P Since Q2 26
+45.3%
BEATING MARKET
LRCX +54.1% vs S&P +8.8%
Market Reaction
Did LRCX Beat Earnings? Q2 2026 Results
Lam Research closed out what it called a record fiscal year with a strong December 2025 quarter, posting non-GAAP diluted EPS of $1.27 against a consensus estimate of $1.17, a beat of 8.70%, while revenue of $5.34 billion topped the $5.24 billion est… Read more Lam Research closed out what it called a record fiscal year with a strong December 2025 quarter, posting non-GAAP diluted EPS of $1.27 against a consensus estimate of $1.17, a beat of 8.70%, while revenue of $5.34 billion topped the $5.24 billion estimate and grew 22.1% year-over-year from $4.38 billion. Heading into the print, the key question was whether AI-driven semiconductor investment could sustain elevated demand for wafer fabrication equipment, and the answer was firmly yes, with accelerating capital spending from chipmakers fueling broad-based system and customer support revenue growth across major geographies. China remained the largest revenue source at 35% of total revenue, while Taiwan and Korea each contributed 20%. Gross margin held near 49.6% despite modest sequential compression from product mix shifts. Looking ahead, Lam guided March 2026 quarter revenue to approximately $5.70 billion and non-GAAP EPS of approximately $1.35, signaling continued sequential momentum as CEO Tim Archer pointed to AI infrastructure buildout as a sustained multi-year growth catalyst.
Key Takeaways
- • AI-driven semiconductor demand acceleration
- • Strong growth in customer support-related revenue
- • Expanding product and services portfolio enabling transition to smaller, more complex 3D devices and advanced packaging
- • Year-over-year systems revenue growth from $2.63 billion to $3.36 billion
LRCX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
LRCX Revenue by Segment
With YoY comparisons, source: SEC Filings
LRCX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Lam delivered another strong quarter to cap a record year. Entering 2026, our expanding product and services portfolio is enabling the market's transition to smaller, more complex three-dimensional devices and packages. With AI accelerating, we are ramping execution velocity across the company to support our customers' growth and realize our vision for multi-year outperformance”
— Tim Archer, Q2 2026 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% |