Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended December 25, 2022
FREMONT, Calif., Jan. 25, 2023 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the
About this update from Lam Research Corporation
[{"type":"text","content":"FREMONT, Calif., Jan. 25, 2023 /PRNewswire/ -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended December 25, 2022 (the \"December 2022 quarter\").\nHighlights for the December 2022 quarter were as follows:\nRevenue of $5.28 billion.U.S. GAAP gross margin of 45.0%, U.S. GAAP operating income as a percentage of revenue of 31.8%, and U.S. GAAP diluted EPS of $10.77.Non-GAAP gross margin of 45.1%, non-GAAP operating income as a percentage of revenue of 32.1%, and non-GAAP diluted EPS of $10.71.Key Financial Data for the Quarters Ended \nDecember 25, 2022 and September 25, 2022 \n(in thousands, except per-share data, percentages, and basis points) \n \nU.S. GAAP\nDecember 2022\nSeptember 2022\nChange Q/Q\nRevenue\n$ 5,277,569\n$ 5,074,121\n+ 4 %\nGross margin as percentage of revenue\n45.0 %\n46.1 %\n- 110 bps\nOperating income as percentage of revenue\n31.8 %\n33.5 %\n- 170 bps\nDiluted EPS\n$ 10.77\n$ 10.39\n+ 3.7 %\nNon-GAAP\nDecember 2022\nSeptember 2022\nChange Q/Q\nRevenue\n$ 5,277,569\n$ 5,074,121\n+ 4 %\nGross margin as percentage of revenue\n45.1 %\n46.0 %\n- 90 bps\nOperating income as percentage of revenue\n32.1 %\n33.3 %\n- 120 bps\nDiluted EPS\n$ 10.71\n$ 10.42\n+ 2.8 %\n \nU.S. GAAP Financial Results\nFor the December 2022 quarter, revenue was $5,278 million, gross margin was $2,376 million, or 45.0% of revenue, operating expenses were $696 million, operating income was 31.8% of revenue, and net income was $1,469 million, or $10.77 per diluted share on a U.S. GAAP basis. This compares to revenue of $5,074 million, gross margin of $2,337 million, or 46.1% of revenue, operating expenses of $639 million, operating income of 33.5% of revenue, and net income of $1,426 million, or $10.39 per diluted share, for the quarter ended September 25, 2022 (the \"September 2022 quarter\").\nNon-GAAP Financial Results\nFor the December 2022 quarter, non-GAAP gross margin was $2,382 million, or 45.1% of revenue, non-GAAP operating expenses were $686 million, non-GAAP operating income was 32.1% of revenue, and non-GAAP net income was $1,461 million, or $10.71 per diluted share. This compares to non-GAAP gross margin of $2,335 million, or 46.0% of revenue, non-GAAP operating expenses of $647 million, non-GAAP operating income of 33.3% of revenue, and non-GAAP net ...