Lam Research 3Q Profit, Revenue Rise on AI-Driven Demand

By Kelly Cloonan

Lam Research logged higher profit and revenue in its latest quarter due to demand for artificial intelligence.

The company, which makes and services equipment used for semiconductors, posted a fiscal third-quarter profit of $1.83 billion, or $1.45 a share, compared with $1.33 billion, or $1.03 a share, a year earlier.

Adjusted earnings per share were $1.47, compared with estimates of $1.36 a share, according to analysts polled by FactSet.

Revenue rose to $5.84 billion from $4.72 billion a year ago. Analysts had forecast $5.75 billion in revenue.

Systems revenue--which includes equipment in deposition, etch and other wafer fabrication markets--rose to $3.73 billion from $3.04 billion in the year-ago quarter. Customer support-related revenue rose to $2.11 billion from $1.99 billion.

Chief Executive Tim Archer said the company's revenue and earnings in the quarter were records as AI-driven demand changes the semiconductor industry.

"Our strategic investments and the velocity of our execution are generating strong momentum, enabling customers' AI roadmaps and driving Lam's outperformance during this critical phase of industry growth," Archer said.

For the current fiscal quarter, the company projects adjusted earnings per share of $1.65, plus or minus 15 cents, and revenue of $6.6 billion, give or take $400 million. Analysts forecast adjusted per-share earnings of $1.45 on revenue of $6.04 billion.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

April 22, 2026 16:39 ET (20:39 GMT)