Lam Research reported fiscal fourth-quarter revenue of $5.17 billion, exceeding the $5.01 billion market consensus and rising 9.6% from the prior quarter. GAAP diluted earnings were $1.35 a share, up 31% sequentially. Non-GAAP gross margin reached 50.3% and operating income accounted for 34.4% of revenue, reflecting continued demand for the company’s deposition and etch tools used in advanced AI chips. Chief Executive Officer Tim Archer said the results marked "another solid quarter" and cited intensifying process complexity in the AI era as a driver of orders. Cash and short-term investments increased to $6.4 billion, while deferred revenue climbed to $2.7 billion. For the current quarter ending 28 September 2025, Lam projects revenue of $4.9 billion to $5.5 billion and diluted earnings of $1.10 to $1.30 a share. Both mid-points sit above Wall Street estimates of $4.66 billion and $1.00 a share, respectively, indicating management expects robust demand to persist despite industry cyclicality.