Lam Research said its June quarter revenue reached $6.72 billion, and LRCX stock now sits on a report that also included record operating margin and earnings per share. The company disclosed the results on July 29, 2026, for the quarter ended June 28, 2026.
Tim Archer said, "Lam delivered record revenue, operating margin and earnings per share in the June quarter as AI-driven demand continues to reshape the semiconductor industry." He also said, "Our strategic investments and technology leadership are helping customers accelerate through rising manufacturing complexity, positioning Lam for a third consecutive year of outperformance in 2026."
Lam Research June quarter
Revenue for the June quarter rose from $5.84 billion in the March quarter to $6.72 billion. Net income increased to $2.28 billion from $1.83 billion, and diluted GAAP earnings per share climbed to $1.81 from $1.45. Those changes show a company moving through the quarter with stronger sales and higher profitability than in the prior period.
Lam said gross margin reached $3.48 billion, or 51.7% of revenue, while operating expenses were $965.3 million. Operating margin came in at 37.4% of revenue. On a non-GAAP basis, gross margin was $3.50 billion, or 52.0% of revenue, with non-GAAP operating margin at 38.4% and non-GAAP diluted earnings per share at $1.82.
Tim Archer on AI demand
Archer tied the quarter to AI-driven demand and to Lam’s strategic investments. His comments point to a business line that is still being measured by revenue growth and margin expansion, not just by a single quarter’s earnings beat.
The company also said cash, cash equivalents and restricted cash rose to $5.60 billion from $4.77 billion at the end of the March quarter, helped mainly by cash generated from operating activities and partly offset by capital return activities. Deferred revenue increased to $2.43 billion from $2.22 billion, and estimated future revenue from shipments to customers in Japan rose to approximately $490.2 million from approximately $434.3 million.
September 27 guidance
Lam said it is providing guidance for the quarter ended September 27, 2026, which leaves investors with a forward view to pair against the record June results. The excerpt does not show the guidance figures, so the market still has to weigh a strong reported quarter against the next quarter’s outlook once those numbers are in hand.
