Lam Research revenue to $23.2B on foundry demand; net income +35.6%; buyback

Filed August 7, 2026 · Period ending June 28, 2026 · Compared to 10-K Aug 11, 2025 · ~2 min read

Key Changes

• high

  Net income rose 35.6% to $7.2B (diluted EPS $5.76) as revenue grew 26% to $23.2B, driven by foundry customers (54% of equipment revenue, up from 45%) investing in AI infrastructure. Gross margin expanded 180bp to 50.5% despite aluminum/steel tariff costs.

  MD&A: Revenue & Profitability verify on EDGAR →
• high

  Returned $5.1B to shareholders: $3.9B in share repurchases (including net share settlement) and $1.3B in dividends. Operating cash flow declined $315M to $5.9B on higher receivables and lower deferred gross profit, partially offset by higher net income.

  MD&A: Cash Flow & Capital Return verify on EDGAR →
• high

  Launched five new product families (Akara conductor etch, Argos/Prevos/Selis selective etch, Aether dry resist) targeting gate-all-around logic and 3D memory. Aether dry resist uses gas-phase deposition to reduce liquid chemicals and improve EUV patterning fidelity.

  Business: Product Portfolio verify on EDGAR →