Lam Research Corporation Q4 2025 Earnings Recap

LRCX Q4 2025 August 1, 2025

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Lam Research reported robust financial results for Q2 2025, achieving record revenues and EPS, driven by strong demand in foundry and NAND sectors, alongside advancements in autonomous fab technology.

Earnings Per Share Beat

$1.33 vs $1.21 est.

+9.9% surprise

Revenue Beat

5171393000 vs 5003972802 est.

+3.3% surprise

Market Reaction

1-Day +2.12%

5-Day +5.58%

30-Day +1.42%

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Key Takeaways

Revenues and EPS reached new highs, with gross margins exceeding 50% for the first time post-merger.
Record foundry revenues were bolstered by strong performance in gate-all-around and mature node markets.
Lam's upgrades business grew mid-teens percent quarter-over-quarter, fueled by NAND customers' transition to higher performance devices.
Increased WFE spending anticipated in 2025 due to China-related expenditures; Lam's served market share projected to expand into the mid-30% range.
Advancements in ALD Moly tools and advanced packaging solutions confirmed Lam’s leadership in critical technology transitions related to AI and next-gen devices.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit LRCX on AllInvestView.

Next Q2 2026