Adjusted earnings per share for Lam Research reached $2.20 in its most recent quarterly report, beating analyst projections of $2.18. Revenue for the fiscal first quarter was $8.2 billion, above the $8.15 billion estimate, while GAAP earnings per share rose 77% year over year to $2.19. Adjusted operating income of $3.3 billion also topped the $3.2 billion forecast, with Chief Executive Officer Tim Archer attributing the record results to AI-driven demand for semiconductors and increased device complexity.
The company forecasts second quarter revenue between $8.20 billion and $9.00 billion, compared to an analyst estimate of $8.53 billion, with adjusted EPS between $2.18 and $2.48 against a $2.31 estimate. China remains the largest market for Lam Research at 35% of total revenue, followed by Korea at 20% and Taiwan at 18%. During the period, the firm spent $1.025 billion on treasury stock purchases and paid $325.4 million in dividends.