Lam Research posts record quarterly revenue of $8.22bn, credits AI for higher chip demand, and guides to $8.60bn

Lam Research, which makes the etch and deposition machines used in chip factories, reported revenue of $8.22bn for the quarter ended 27 September, up from $6.72bn in the June quarter, in results filed with the SEC on 21 October.

GAAP gross margin was 52.3%, operating margin 40.0% and diluted earnings per share $2.19. On Lam's non-GAAP measures the figures were 52.4%, 40.2% and $2.20.

For the December quarter Lam guides to revenue of $8.60bn, plus or minus $400m, a gross margin of 52.5%, plus or minus one point, and earnings per share of $2.33, plus or minus $0.15.

By region, China was 35% of the quarter's revenue, Korea 20% and Taiwan 18%. Chief executive Tim Archer tied the record to AI, citing “AI driving higher semiconductor demand and greater device complexity”, and said “Our strategic investments in technology inflections and manufacturing capacity are paying off”.

Lam's results are a read on spending by the chipmakers and memory makers who buy its machines. The release gives revenue by region but no figure for AI-related sales on their own.

• Confirmed Revenue was $8.22bn for the September quarter, with GAAP diluted EPS of $2.19. Lam Research, results (SEC 8-K, Exhibit 99.1)
• Confirmed Lam guides to December-quarter revenue of $8.60bn, plus or minus $400m. Lam Research, results (SEC 8-K, Exhibit 99.1)
• Claimed Chief executive Tim Archer credits AI-driven chip demand for the record quarter. Lam Research, results (SEC 8-K, Exhibit 99.1)