Lam Research shares plunge despite 54% revenue growth
U.S. semiconductor equipment manufacturer Lam Research (LRCX) reported fiscal first-quarter 2027 revenue of $8.219 billion and GAAP net income of approximately $2.75 billion on October 21.
Lam Research FY2027 Q1 earnings
| Financial metric | Actual | Market estimate |
|---|---|---|
| Revenue | $8.219 billion | Approximately $8.14 billion |
| Revenue growth | +54.4% YoY | — |
| Net income (GAAP) | Approximately $2.75 billion | — |
| Net income growth | Approximately +75% YoY | — |
| Diluted EPS (GAAP) | $2.19 | — |
| Adjusted EPS | $2.20 | $2.18 |
| Adjusted net income | Approximately $2.77 billion | — |
| GAAP gross margin | 52.3% | — |
| Adjusted gross margin | 52.4% | — |
| GAAP operating margin | 40.0% | — |
| Adjusted operating margin | 40.2% | — |
| Systems revenue | $5.733 billion | — |
| Customer support and other revenue | $2.487 billion | — |
| FY2027 Q2 revenue guidance | $8.2–$9.0 billion | Approximately $8.53 billion |
| FY2027 Q2 adjusted EPS guidance | $2.18–$2.48 | Approximately $2.31 |
| Stock reaction (October 21, after-hours) | Decline of more than 6% | — |
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