Lam Research(US:LRCX) 智通财经网·2026-01-29 00:29Core Insights - Lam Research Corporation (LRCX.US) reported better-than-expected Q2 FY2026 earnings, with revenue of $5.34 billion, a 22% year-over-year increase, exceeding expectations by $100 million [1] - The company’s adjusted gross margin was 49.7%, surpassing the previous forecast of 48.6%, and the adjusted operating margin was 34.3%, higher than the anticipated 32.9% [1] - The stock price increased by over 5% in after-hours trading, reaching $254.33, a 6.23% rise at the time of reporting [1] Revenue Breakdown - Revenue from mainland China accounted for 35%, Taiwan for 20%, South Korea for 20%, and Japan for 10% [1] Future Outlook - Lam Research expects Q3 revenue to be between $5.4 billion and $6 billion, significantly above the previous estimate of $5.3 billion [1] - Projected earnings per share for Q3 are anticipated to be between $1.25 and $1.45, exceeding the market consensus of $1.20 [1] Management Commentary - CEO Tim Archer highlighted the company's expanding product and service portfolio, driving the market towards smaller and more complex 3D devices and packaging [2] - The company is enhancing execution speed across its operations to support customer growth amid the acceleration of artificial intelligence [2] Financial Position - As of the end of Q4 2025, cash and cash equivalents decreased to $6.2 billion from $6.7 billion at the end of Q3 2025, primarily due to reduced cash for capital return activities and capital expenditures [2]