Lam Research Reports Strong Q2 Financial Results for the Quarter Ended June 28, 2026
Lam Research Corporation reported strong financial results for its quarter ended June 28, 2026. Revenue reached $6.72 billion, a 15.1% increase from the previous quarter and driven by continued AI-driven demand in semiconductor manufacturing. U.S. GAAP gross margin rose to 51.7%, while non-GAAP gross margin was slightly higher at 52%. Both operating margins improved significantly compared to the prior quarter under both accounting standards, with net income also rising sharply. The company's balance sheet showed an increase in cash and equivalents to $5.6 billion from $4.77 billion due largely to strong operational performance. Deferred revenue climbed to $2.43 billion as well, reflecting ongoing customer commitments. Lam Research CEO Tim Archer highlighted the firm’s strategic investments and technology leadership as key factors behind its outperformance. Geographically, Taiwan led in revenue contribution at 27%, followed by China (26%) and Korea (20%). The company also noted that shipments to Japan are classified differently due to transfer of title upon customer acceptance.
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