The earnings call highlighted significant achievements in revenue growth, strong performance in the foundry segment, and technological advancements in advanced services. However, there were challenges such as a decline in DRAM revenue and an anticipated revenue decline in the December quarter due to mix and tariffs. Despite these challenges, the positive aspects of strong financial performance and technological leadership outweigh the negatives.

Company Guidance

During the earnings call for the June 2025 quarter, Lam Research provided guidance for the upcoming September 2025 quarter, highlighting several key metrics and expectations. The company reported revenues of $5.17 billion for the June quarter, which marked an increase of 10% from the previous quarter, with a gross margin of 50.3%. They achieved a record revenue for the fiscal year 2025 at $18.4 billion and a gross margin of 48.8%. For the September 2025 quarter, Lam Research anticipates revenue of $5.2 billion, plus or minus $300 million, and expects gross margins to remain around 50%, plus or minus 1 percentage point. Earnings per share are projected at $1.20, plus or minus $0.10, with a share count of approximately 1.27 billion shares. Additionally, the company forecasted wafer fabrication equipment (WFE) spending for the calendar year 2025 to be around $105 billion, up from the previous estimate of $100 billion, primarily due to increased domestic China-related spending.

Record-Breaking Revenue and Growth

Lam Research achieved record revenue of $18.4 billion for the fiscal year 2025, with quarterly revenue reaching $5.17 billion, a 10% increase from the prior quarter. Gross margin reached a record 50.3%, the highest since the merger with Novellus.

Strong Performance in Foundry Segment

The foundry segment represented 52% of systems revenue, marking a second consecutive record quarter. Revenue from mature nodes and leading-edge processes drove this growth.

Impressive Upgrades Business Growth

The upgrades business reached a new high, with a mid-teens percentage increase over the prior quarter, driven by NAND technology conversions and customer migrations to higher layer count devices.

Advanced Services and Technology Leadership

Lam's advanced services, including the Dextro cobots, are realizing the vision of an autonomous fab, leading to enhanced tool-to-tool matching and improved machine availability.

Lam Research (LRCX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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LRCX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2026 (Q1)	1.21 / -	0.86	―	―	―
Jul 30, 2025	2025 (Q4)	1.21 / 1.33	0.814	63.39% (+0.52)
Apr 23, 2025	2025 (Q3)	1.00 / 1.04	0.779	33.50% (+0.26)
Jan 29, 2025	2025 (Q2)	0.88 / 0.91	0.752	21.01% (+0.16)
Oct 23, 2024	2025 (Q1)	0.81 / 0.86	0.685	25.55% (+0.17)
Jul 31, 2024	2024 (Q4)	0.76 / 0.81	0.598	36.12% (+0.22)
Apr 24, 2024	2024 (Q3)	0.73 / 0.78	0.699	11.44% (+0.08)
Jan 24, 2024	2024 (Q2)	0.71 / 0.75	1.071	-29.79% (-0.32)
Oct 18, 2023	2024 (Q1)	0.61 / 0.69	1.042	-34.26% (-0.36)
Jul 26, 2023	2023 (Q4)	0.51 / 0.60	0.883	-32.28% (-0.29)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LRCX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$99.09	$94.84	-4.29%
Apr 23, 2025	$66.56	$70.72	+6.25%
Jan 29, 2025	$74.74	$80.29	+7.43%
Oct 23, 2024	$72.24	$75.92	+5.09%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.