Filing Flows › LAM Research (LRCX) › Q3 FY25
LAM Research (LRCX) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Apr 25, 2025
LAM Research (LRCX) reported revenue of $4.7B for the third quarter fiscal 2025 (Q3 FY25), +24% from a year earlier and +8% from the quarter before. Operating margin was 33.1%, net earnings $1.3B (28.2% of revenue).
LAM Research, Q3 FY25: revenue $4.7B (+24% year over year), operating margin 33.1%, net earnings $1.3B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.7B | +8% | +24% |
| Gross profit | $2.3B | +12% | +28% |
| Operating profit | $1.6B | +17% | +48% |
| Net earnings | $1.3B | +12% | +38% |
| Operating cash flow | $1.3B | +76% | -6% |
| Free cash flow | $1.0B | +84% | -20% |
What changed
Revenue was $4.7B in Q3 FY25, up 24% year over year and up 8% from the previous quarter. Systems revenue was the largest line at 64% of revenue. Systems revenue added $0.64B year over year (up 27%), 69% of the total change.
Gross margin was 49.0%, up 1.6 points from a year earlier. Operating profit was $1.6B, a 33.1% margin (up 5.2 points year over year). Of the extra revenue versus a year earlier, 54% reached operating profit, above the 28% margin then. Operating expenses grew 1% against revenue growth of 24%. Net earnings were $1.3B, up 38% year over year. The effective tax rate was 13.4%.
Operating cash flow was $1.3B (down 6% year over year), 98% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.29B left free cash flow of $1.0B.
Questions
What was LAM Research's revenue in the third quarter fiscal 2025?
LAM Research (LRCX) reported revenue of $4.7B for the third quarter fiscal 2025 (Q3 FY25), +24% from a year earlier and +8% from the quarter before.
Was LAM Research profitable in the third quarter fiscal 2025?
Operating profit was $1.6B (33.1% of revenue) and net earnings $1.3B.
Source: LAM Research 10-Q on SEC EDGAR.