Lam Research Reports Record $6.72 Billion Quarterly Revenue

Lam Research Corp. reported record fourth-quarter revenue of $6.72 billion, a 30% increase from the $5.17 billion earned during the same period last year. The company's net income rose to $2.28 billion, or $1.81 per share, compared to $1.72 billion, or $1.35 per share, in the prior-year period.

Executives attributed the growth to sustained AI-related demand for semiconductor equipment. The company also saw performance gains in its margins, reporting a gross margin of 51.7% and an operating margin of 37.4%.

Looking ahead to the first quarter, the company projects revenue of approximately $8.10 billion. Lam Research estimates earnings per share for the upcoming quarter at $23.15.