Lam Research 1Q Sales Pop With AI Demand from Asia

By Katherine Hamilton

Lam Research's sales jumped more than 50% in the fiscal first quarter, as artificial intelligence demand in Asia continued to fuel growth.

The semiconductor equipment company on Wednesday posted a profit of $2.75 billion, or $2.19 a share, compared with $1.57 billion, or $1.24 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $2.20, ahead of the $2.18 anticipated by analysts, according to FactSet.

Revenue rose 54% to $8.22 billion. Analysts surveyed by FactSet forecast revenue of $8.14 billion.

AI is driving higher demand for semiconductors, as well as greater device complexity, Chief Executive Tim Archer said.

"Our strategic investments in technology inflections and manufacturing capacity are paying off, strengthening our ability to outgrow the wafer fabrication equipment market as the industry expands," Archer said.

More than a third of revenue came from China, with 20% coming from Korea and 18% from Taiwan.

For the current second quarter, Lam expects revenue to be $8.60 billion at the midpoint, plus or minus $400 million. Adjusted earnings per share are projected to be $2.33, plus or minus 15 cents.

Analysts were forecasting $8.57 billion in second-quarter sales and $2.33 a share in adjusted earnings.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

October 21, 2026 16:33 ET (20:33 GMT)