Lam Research posts record $8.22 billion quarter as AI chip demand accelerates

The chip equipment maker topped revenue estimates, matched on adjusted earnings, and raised its outlook for wafer fab equipment spending Lam Research just had the biggest quarter in its history. The company reported first-quarter fiscal 2027 revenue of $8.22 billion , ahead of what Wall Street expected. Adjusted earnings per share came in at $2.20, roughly matching estimates. The AI buildout is still hungry, and the companies selling the picks and shovels keep getting paid. The quarter ended on September 27, 2026. Revenue jumped 54.4% compared with the same period a year earlier. Sequentially, the business grew 22% from the $6.72 billion Lam booked in the fourth quarter of fiscal 2026. Consensus expectations sat at approximately $8.14 billion in revenue and $2.18 in non-GAAP earnings per share.

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