Lam Research(US:LRCX) 智通财经网·2025-10-23 00:25Core Insights - Lam Research Corporation (LRCX.US) reported better-than-expected Q1 earnings driven by increased procurement of semiconductor manufacturing equipment for AI applications [1][2] - The company's stock surged nearly 6% in after-hours trading following the earnings announcement [1] Financial Performance - For the first fiscal quarter ending September 28, Lam Research achieved revenue of $5.32 billion, a 27% year-over-year increase, surpassing market expectations of $5.23 billion [1] - Adjusted earnings per share (EPS) were $1.26, exceeding the consensus estimate of $1.22, with an adjusted gross margin of 50.6%, slightly above the forecast of 50% [1] Revenue Breakdown - China was the largest revenue source for Lam Research in Q1, contributing 43% of total revenue; Taiwan accounted for 19%, South Korea for 15%, and the United States for 6% [1] Future Outlook - Lam Research anticipates Q2 revenue to reach $5.2 billion, with a variance of $300 million, compared to analyst expectations of $4.81 billion [1] - The company projects adjusted EPS of $1.15, with a fluctuation of $0.10, while the market expects $1.04 [1] Industry Context - The strong demand for AI semiconductors has led to a doubling of Lam Research's stock price this year, as chip designers seek advanced manufacturing equipment to meet growing computational needs [2] - Lam Research focuses on developing key equipment used in the semiconductor manufacturing process, particularly in wafer processing and wiring [2] - The surge in demand for AI chips has positively impacted orders for wafer fabrication equipment (WFE) suppliers, benefiting companies like Lam Research [2] Executive Commentary - CEO Tim Archer stated that Lam Research's innovations are helping clients navigate significant changes in AI-driven semiconductor manufacturing, positioning the company for sustained growth in a promising environment [2]