Lam Research (LRCX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Lam Research reported revenue of $5.34 billion for the quarter ended December 2025, reflecting a 22.1% increase year-over-year and a surprise of +2.11% over the Zacks Consensus Estimate of $5.23 billion [1] - The earnings per share (EPS) for the quarter was $1.27, up from $0.91 in the same quarter last year, with an EPS surprise of +8.99% compared to the consensus estimate of $1.17 [1] Financial Performance Metrics - Lam Research's stock has returned +40% over the past month, significantly outperforming the Zacks S&P 500 composite's +0.8% change, and currently holds a Zacks Rank 1 (Strong Buy) [3] - Revenue from Foundry equipment and upgrades was 59%, exceeding the estimated 50.9% by analysts [4] - Revenue from Logic/integrated device manufacturing equipment and upgrades was 7%, slightly above the estimated 6.4% [4] - Memory-related revenue was 34%, below the average estimate of 42.7% [4] - Customer support-related revenue and other totaled $1.99 billion, surpassing the average estimate of $1.78 billion, representing a year-over-year increase of +13.5% [4] - Revenue from Systems was $3.36 billion, slightly below the estimated $3.44 billion, but showed a +27.9% increase compared to the year-ago quarter [4]