Revenue and Income - Revenue for the three months ended March 30, 2025, was $4,720.2 million, an increase of 8% compared to $4,376.0 million for the three months ended December 29, 2024[77]. - Net income for the March 2025 quarter was $1,330.7 million, compared to $1,191.0 million for the December 2024 quarter, reflecting a diluted net income per share increase from $0.92 to $1.03[77]. Gross Margin and Expenses - Gross margin as a percentage of total revenue increased to 49.0% in the March 2025 quarter from 47.4% in the December 2024 quarter, primarily due to favorable changes in customer and product mix[79]. - Gross margin for the quarter ended March 30, 2025, was $2,313.7 million, representing 49.0% of revenue, an increase from 47.4% in the previous quarter[85]. - Research and Development (R&D) expenses for the quarter ended March 30, 2025, were $525.9 million, accounting for 11.1% of revenue, slightly down from 11.3% in the previous quarter[87]. - Selling, General, and Administrative (SG&A) expenses decreased to $226.0 million in the March 2025 quarter, representing 4.8% of revenue, down from 5.6% in the previous quarter[89]. Revenue Breakdown - Systems revenue for the March 2025 quarter was $3,035.3 million, up from $2,625.6 million in the December 2024 quarter, driven by strengthened investments in the Foundry market segment[83]. - Customer support-related revenue for the March 2025 quarter was $1,684.9 million, slightly down from $1,750.4 million in the December 2024 quarter[83]. Cash and Deferred Revenue - Cash, cash equivalents, and restricted cash decreased to $5.5 billion at the end of the March 2025 quarter from $5.7 billion at the end of the December 2024 quarter, primarily due to $504.0 million in principal payments on debt instruments[80]. - The deferred revenue balance at the end of the March 2025 quarter was $2,010.9 million, a slight decrease from $2,031.6 million at the end of the December 2024 quarter[77]. - Total gross cash, cash equivalents, and restricted cash balances were $5.5 billion as of March 30, 2025, down from $5.9 billion as of June 30, 2024[102]. Tax and Financial Agreements - The effective tax rate for the quarter ended March 30, 2025, was 13.4%, up from 11.7% in the previous quarter[96]. - The company entered into a Third Amended and Restated Credit Agreement in January 2025, increasing the unsecured revolving credit facility from $1.5 billion to $2.0 billion[109]. Share Repurchases and Cash Flow - The company incurred $2,130.0 million in share repurchases during the nine months ended March 30, 2025[102]. - Net cash provided by operating activities for the nine months ended March 30, 2025, was $3,619.1 million, with net income of $3,638.1 million[103]. - Anticipated cash flows from operations are expected to support operations, investments, and dividends for at least the next twelve months[107]. Employee and Market Outlook - Employee headcount as of March 30, 2025, was approximately 18,600, reflecting an increase in employee-related costs due to seasonality and higher headcount[80]. - The company anticipates strong wafer fabrication equipment spending levels in fiscal year 2025, driven by increases in both memory and non-memory market segments[74]. - The company is positioned to leverage technology inflections in the semiconductor industry, including 3D device scaling and advanced packaging chip integration, to drive sustainable growth[74]. Restructuring Charges - No restructuring charges were recorded during the nine months ended March 30, 2025, compared to $57.1 million in the same period of the prior year[92].

证 券 研 究 报 告 LAM Research（LRCX.O）2025Q1（FY25Q3）点评及业绩说明会纪要 2025Q1 业绩符合预期，先进逻辑&NAND 技 术升级带动全年 WFE 提升 ❖ 事项： 2025 年 4 月 24 日，LAM Research 发布 2025Q1（FY25Q3）季度报告，并召开 业绩说明会，2025Q1 实现营业收入 47.20 亿美元（QoQ+7.86%，YoY+24.43%）； non-GAAP 毛利率 49.0%（QoQ+1.5pct，YoY+1.5pct）。（注：以下全文为日历 年时间） ❖ 评论： 1. 业绩情况：2025Q1 公司实现营收 47.20 亿美元（QoQ+7.86%，YoY+24.43%）， 高于业绩指引中值（46.5±3 亿美元）；non-GAAP 毛利率 49.0%（QoQ+1.5pct， YoY+1.5pct），处于前期业绩指引上限（48.0±1%），non-GAAP 毛利率增长得 益于产品组合优化以及贴近客户制造战略带来的效率提升。 2. 营收结构（分业务部门)：1.设备部门：1）存储业务：内存占比为 43%，低 于 2024Q4 的 50 ...

Megacap tech stocks are in rally mode today, including semiconductor concern Nvidia (NVDA). The shares of sector peers Lam Research Corp (NASDAQ:LRCX) and Texas Instruments Inc (NASDAQ:TXN) are also higher after the companies bested top- and bottom-line expectations for the fiscal third and first quarter, respectively.LRCX is up 5.7% to trade at $70.50 at last glance, chipping away at its 20.1% year-to-date deficit. Looking to conquer overhead pressure from the 20-day moving average, the stock is headed for ...

Lam Research (LRCX) reported third-quarter fiscal 2025 results, wherein both top and bottom lines surpassed the Zacks Consensus Estimate.LRCX reported third-quarter fiscal 2025 non-GAAP earnings of $1.04 per share, which beat the Zacks Consensus Estimate by 4%. The bottom line increased 33.3% on a year-over-year basis, primarily driven by strong product demand, technology-driven upgrade cycles, and strategic execution across manufacturing and supply chain operations. (Find the latest EPS estimates and surpr ...

Financial Data and Key Metrics Changes - Revenue for the March quarter was $4.72 billion, an increase of 8% from the prior quarter [25] - Gross margin for the March quarter was 49%, improving from 47.5% in the December quarter [34] - Operating margin in the March quarter was 32.8%, up from 30.7% in the December quarter [36] - Diluted earnings per share came in at $1.04, with a diluted share count of approximately 1.29 billion shares [39] - The company expects revenue for the June quarter to be $5 billion plus or minus $300 million [45] Business Line Data and Key Metrics Changes - Memory systems revenue accounted for 43% of total systems revenue, down from 50% in the prior quarter [26] - Foundry systems revenue represented 48% of total systems revenue, up from 35% in the December quarter, marking a new record [29] - DRAM systems revenue was 23% of total systems revenue, down from 26% in the December quarter [28] - Logic and Other systems revenue was 9%, down from 15% in the prior quarter [31] Market Data and Key Metrics Changes - The China region accounted for 31% of total revenue, flat from the prior quarter [32] - Taiwan and Korea each represented 24% of revenue in the March quarter, with Taiwan achieving a new record in dollar terms [32] - The customer support business group generated approximately $1.7 billion in revenue for the March quarter, down slightly from the December quarter but up 21% year-over-year [33] Company Strategy and Development Direction - The company aims to expand its served market faster than overall wafer fabrication equipment (WFE) growth, driven by increased semiconductor device complexity [11] - The company plans to gain market share with a strong product portfolio targeting billion-dollar technology inflections [12] - The focus remains on delivering new products, advanced services, and digital transformation initiatives to achieve growth and profitability goals [11] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the ability to outperform overall semiconductor industry growth in the coming years [22] - The company is closely monitoring the dynamic tariff and global economic environment but has not seen significant changes in customer plans [10] - Management expects gross margins to expand again in the June quarter [8] Other Important Information - The company allocated $347 million to open market share repurchases and paid $296 million in dividends during the March quarter [38] - Capital expenditures in the March quarter were $288 million, driven by investments in lab expansions and manufacturing growth [43] - The company ended the March quarter with approximately 18,600 full-time employees, an increase of about 300 from the prior quarter [44] Q&A Session Summary Question: Sustainability of NAND upgrades beyond June - Management sees a significant portion of the industry's bits still needing upgrades, indicating strong momentum for NAND upgrades [54][56] Question: Sustainability of Taiwan revenues - Management confirms that the strong performance in Taiwan is sustainable due to investments in new tooling and technology inflections [60][62] Question: Steps to limit tariff impacts - Management emphasizes the flexibility of their global manufacturing and supply chain operations to mitigate tariff impacts [68][71] Question: Second half revenue expectations - Management indicates that the second half is expected to be first-half weighted due to lost business from restricted Chinese customers [74][76] Question: Gross margin sustainability - Management acknowledges variability in gross margins based on customer and product mix, but does not provide specific guidance on future levels [92][94] Question: Impact of tariffs on gross margin guidance - Management confirms that the impact of tariffs is factored into the gross margin guidance but does not quantify it [155][156]

Lam Research Corporation March quarter 2025 financial results April 23, 2025 Cautionary statement regarding forward-looking statements This presentation and the accompanying discussion contain "forward-looking statements" under U.S. securities laws. Forward-looking statements include any statements that are not statements of historical fact. Examples of forward-looking statements include, but are not limited to: (1) anticipated business, balance sheet, cash flow and financial measures and results and relate ...

Lam Research (LRCX) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4%. A quarter ago, it was expected that this semiconductor equipment maker would post earnings of $0.87 per share when it actually produced earnings of $0.91, delivering a surprise of 4.60%.Over the last four quarters, t ...

Lam Research (LRCX) Q3 2025 Earnings Call April 23, 2025 05:00 PM ET Company Participants Ram Ganesh - Vice President, Investor RelationsTim Archer - President and CEODouglas Bettinger - Executive VP & CFOCJ Muse - Senior Managing DirectorTimothy Arcuri - Managing DirectorHarlan Sur - Executive Director - Equity ResearchKrish Sankar - Managing DirectorSrini Pajjuri - Managing DirectorVivek Arya - Managing DirectorBlayne Curtis - Managing DirectorJoseph Moore - Managing DirectorThomas O'Malley - Director - E ...

Exhibit 99.1 FREMONT, Calif., April 23, 2025 - Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended March 30, 2025 (the "March 2025 quarter"). FOR IMMEDIATE RELEASE Highlights for the March 2025 quarter were as follows: Lam Research Corporation Reports Financial Results for the Quarter Ended March 30, 2025 Key Financial Data for the Quarters Ended March 30, 2025 and December 29, 2024 (in thousands, except per-share data, percentages, and bas ...

FREMONT, Calif., April 23, 2025 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended March 30, 2025 (the "March 2025 quarter").Highlights for the March 2025 quarter were as follows: Revenue of $4.72 billion. U.S. GAAP gross margin of 49.0%, U.S. GAAP operating income as a percentage of revenue of 33.1%, and U.S. GAAP diluted EPS of $1.03. Non-GAAP gross margin of 49.0%, non-GAAP operating income as a percentage of revenue of ...