Lam Research reported record first-quarter fiscal 2027 revenue of $8.22 billion, surpassing the $8.14 billion consensus estimate. Revenue rose 54.4% year over year and 22% sequentially, while adjusted earnings per share of $2.20 broadly matched expectations of $2.18. Net income reached $2.75 billion, and the GAAP operating margin improved by 5.6 percentage points to 40.0%. The company attributed the acceleration to strong demand for AI-related semiconductors and more complex devices requiring advanced manufacturing processes, then raised its outlook for wafer fab equipment spending to the low end of the $150 billion range.
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