Lam Research Stock Slips After Narrow Q1 Earnings Beat

Lam Research Corp. (NASDAQ:LRCX) posted its first-quarter fiscal 2027 results after Wednesday’s closing bell, beating analysts’ estimates on the top and bottom lines.

Here’s a look at the details inside the report. 

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Lam Research Q1 Details    

Lam Research reported quarterly earnings of $2.20 per share, which beat the consensus estimate of $2.18 by 0.92%, per Benzinga Pro data. 

Quarterly revenue came in at $8.22 billion, which beat the analyst consensus estimate of $8.15 billion by 0.81%.

Non-GAAP gross margin as a percent of revenue was 52.4%, and non-GAAP operating margin as a percent of revenue was 40.2% for the quarter.

“With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter,” said Tim Archer, Lam Research’s CEO.

Looking Ahead

Lam Research expects second quarter adjusted EPS of $2.18-$2.48, versus the $2.31 analyst estimate, and revenue between $8.2 billion and $9.0 billion, versus the $8.53 billion estimate.

LRCX Stock Price: According to data from Benzinga Pro, Lam Research stock was down 7.40% to $241.50 in Wednesday’s extended trading.  

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