🔹 Revenue: $5.17B (Est. $4.99B) 🟢; UP +9.6% QoQ
🔹 Adj. EPS: $1.33 (Est. $1.20) 🟢; UP +27.9% QoQ
🔹 Adj. Gross Margin: 50.3%; +130 bps QoQ
Guidance (Q1'26):
🔹 Revenue: $4.9B–$5.5B (Est. $4.66B) 🟢
🔹 Adj. EPS: $1.10–$1.30 (Est. $1.01) 🟢
🔹 Adj. Gross Margin: 49%–51% (Est. 48.5%) 🟢
🔹 Adj. Operating Margin: 33%–35% (Est. 31.4%) 🟢
Segment Revenue:
🔹 Systems: $3.44B (vs. $3.04B QoQ)
🔹 Customer Support: $1.73B (vs. $1.68B QoQ)
Geographic:
🔹 China: 35% | Korea: 22% | Taiwan: 19%
🔹 Japan: 14% | U.S.: 6% | Southeast Asia: 2% | Europe: 2%
Balance Sheet & Cash Flow:
🔹 Cash, Equivalents & Restricted Cash: $6.4B (vs. $5.5B QoQ)
🔹 Deferred Revenue: $2.68B (vs. $2.01B QoQ)
🔹 Japan Inventory Held (Pending Acceptance): $342M
CEO Commentary:
🔸 “Lam delivered another solid quarter, highlighted by strong gross margins and record EPS.” – CEO Tim Archer
🔸 “Deposition and etch criticality is intensifying in the AI era.”
🔸 “We are executing on long-term strategic initiatives to position Lam for outperformance.”