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Mar 26, 2023
Lam Research Q3 2023 Earnings Report
Lam Research's financial performance decreased due to lower wafer fabrication equipment spending.
Key Takeaways
Lam Research reported revenue of $3.87 billion and a GAAP EPS of $6.01 for the quarter ended March 26, 2023. The company's performance was impacted by lower wafer fabrication equipment spending. However, the company delivered solid March quarter performance, including record foundry-related revenues.
Revenue was $3.87 billion.
U.S. GAAP gross margin was 41.5%, U.S. GAAP operating income as a percentage of revenue was 24.4%, and U.S. GAAP diluted EPS was $6.01.
Non-GAAP gross margin was 44.0%, non-GAAP operating income as a percentage of revenue was 28.3%, and non-GAAP diluted EPS was $6.99.
Cash and cash equivalents, short-term investments, and restricted cash and investments balances increased to $5.6 billion.
Lam Research
Lam Research
Lam Research Revenue by Segment
Lam Research Revenue by Geographic Location
Revenue by Segment
Systems Revenue
CapyFin.comRevenue by Geographic Location
China Revenue
CapyFin.comKorea Revenue
CapyFin.comTaiwan Revenue
CapyFin.comJapan Revenue
CapyFin.comUnited States Revenue
CapyFin.comSoutheast Asia Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
For the quarter ended June 25, 2023, Lam is providing the following guidance: Revenue $3.1 Billion+/-$300 Million, Gross margin as a percentage of revenue 43.2%+/-1%, Operating income as a percentage of revenue 24.3%+/-1%, Net income per diluted share $4.75+/-$0.75, Diluted share count 134 million
Positive Outlook
- Revenue guidance: $3.1 Billion +/- $300 Million
- Gross margin as a percentage of revenue guidance: 43.2% +/- 1%
- Operating income as a percentage of revenue guidance: 24.3% +/- 1%
- Net income per diluted share guidance: $4.75 +/- $0.75
- Diluted share count: 134 million
Challenges Ahead
- Potential impact of business combinations
- Asset acquisitions
- Divestitures
- Balance sheet valuation adjustments
- Financing arrangements