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Mar 30, 2025
Lam Research Q3 2025 Earnings Report
Lam Research reported strong financial performance with higher revenue, earnings, and profitability in Q1 2025.
Key Takeaways
Lam Research delivered a solid quarter with $4.72B in revenue and $1.33B in net income. EPS exceeded $1, and margins improved QoQ, reflecting robust demand for semiconductor equipment.
Revenue increased to $4.72B, reflecting strong market demand.
Net income reached $1.33B with EPS of $1.03 (Non-GAAP: $1.04).
Operating and gross margins improved significantly QoQ.
Customer support revenue remained robust alongside system sales.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Lam projects continued growth for Q2 2025 with revenue of $5.0B ± $300M and stable margins.
Positive Outlook
- Revenue expected to rise to around $5.0B.
- Gross margin guidance at 49.5% ± 1%.
- Operating margin forecasted at 33.5% ± 1%.
- EPS expected at $1.20 ± $0.10.
- Strong confidence in outperforming industry growth.
Challenges Ahead
- Tariff-related uncertainty remains a concern.
- No projected changes in major business arrangements factored in.
- Cash balance declined due to capital returns and debt payments.
- Deferred revenue slightly decreased compared to last quarter.
- Geopolitical risks and supply chain pressures may persist.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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