# Lam Research Q1 2027 Earnings Beat

> Lam Research reports record $8.22B revenue and 40%+ operating margin as AI-driven demand accelerates.
- Title: Lam Research Q1 2027 Earnings Beat · BigGo Finance | Shortify
- Summary: Lam Research reports record $8.22B revenue and 40%+ operating margin as AI-driven demand accelerates. Lam Research achieved record Q1 2027 revenue of $8.22…
- Keywords: lam research, q1 2027, revenue, operating margin, ai demand, nand, drum, wfe, 2027 wfe, ai supercycle, finance, markets
- Source: BigGo Finance — https://finance.biggo.com/news/US_LRCX_2026-10-21
- Author: BigGo Finance
- Published: 2026-10-21T23:14:17+00:00
- Read time: 1 min
- Topics: lam research, q1 2027, revenue, operating margin, ai demand, nand, drum, wfe, 2027 wfe, ai supercycle, finance, markets
## Q1 2027 Revenue
Lam Research reported record revenue of $8.22 billion for Q1 2027, up 22% sequentially and 54% year-over-year.
## Operating Margin
Operating margin reached 40.2%, the first time exceeding 40% in Lam Research's history.
## AI-Driven Demand
CEO Tim Archer attributed Q1 strength to AI-driven demand and rising deposition and etch intensity across device types.
## Memory Revenue
Memory accounted for 46% of systems revenue, with NAND revenue surging 40% sequentially.
## China Revenue
China contributed 35% of total revenue, up from 26% in the June quarter.
## CSBG Performance
Customer Support Business Group (CSBG) delivered a fourth consecutive record quarter with nearly $2.5 billion revenue.
## 2027 WFE Outlook
Lam previewed 2027 WFE above $200 billion, led by DRAM and 256-layer NAND conversions.
## Q4 2027 Guidance
Lam guided December 2027 revenue to $8.6 billion, but noted supply chain constraints would have pushed it higher.
## NAND Conversions
NAND revenue grew 40% sequentially, driven by conversions to 256-layer and above devices.
## Advanced Packaging
Lam shipped panel-level packaging systems to over 20 customers, targeting market share above wafer-level packaging.
## 2027 WFE Details
Lam expects 2027 WFE to exceed $200 billion, with DRAM leading growth followed by foundry logic and NAND.
## Supply Chain Constraints
Near-term supply chain constraints delayed revenue from December to March, costing $300-$400 million.
## Gross Margin Outlook
Near-term gross margins expected to stay stable, with long-term potential to reach mid-50s through new products and pricing.
## Capital Return
Lam returned $1 billion to shareholders through share repurchases and $325 million in dividends.
## Key takeaway

Lam Research achieved record Q1 2027 revenue of $8.22 billion with 40.2% operating margin, driven by AI demand and 256-layer NAND conversions.