Lam Research Corporation (LRCX)

Lam Research beat expectations on both the top and bottom line in the fiscal fourth quarter of 2026, reported July 29, based on preliminary results. Revenue rose about 30% to roughly $6.7 billion from $5.17 billion a year ago, edging the $6.66 billion consensus by about 1%, while gross margin held near 52% and operating margin was around 37%. EPS of $1.82 topped the $1.69 estimate by about 8% and was up from $1.33 a year ago, and net income increased about 32% to roughly $2.3 billion from $1.72 billion a year ago. Systems revenue led the quarter at about $3.7 billion, up 23%, and customer support-related revenue and other contributed roughly $2.1 billion, up 25%; by geography, China was the largest market at about $2.0 billion, up 36%, with Korea at about $1.3 billion, up 18%. Lam Research generated operating cash flow of about $1.5 billion, repurchased roughly $247 million of stock and paid about $325 million in dividends. Next-period consensus calls for EPS of $1.83 on revenue of $7.60 billion.