LAM RESEARCH CORP

For the period ended Dec 29, 2024. Filed Jan 31, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 29, 2024 · Filed Jan 31, 2025

LRCX$221.31+10.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Financial Statements (Unaudited):

ITEM 1. Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

	Three Months Ended		Six Months Ended
	December 29,2024	December 24,2023	December 29,2024	December 24,2023
Revenue	$4,376,047	$3,758,259	$8,544,023	$7,240,321
Cost of goods sold	2,303,066	1,985,847	4,468,359	3,805,267
Restructuring charges, net - cost of goods sold	—	14,957	—	22,897
Total cost of goods sold	2,303,066	2,000,804	4,468,359	3,828,164
Gross margin	2,072,981	1,757,455	4,075,664	3,412,157
Research and development	494,947	469,712	990,305	892,341
Selling, general, and administrative	244,150	228,843	487,278	435,866
Restructuring charges, net - operating expenses	—	1,688	—	3,709
Total operating expenses	739,097	700,243	1,477,583	1,331,916
Operating income	1,333,884	1,057,212	2,598,081	2,080,241
Other income (expense), net	14,262	29,839	44,343	32,440
Income before income taxes	1,348,146	1,087,051	2,642,424	2,112,681
Income tax expense	(157,128)	(132,785)	(334,962)	(271,017)
Net income	$1,191,018	$954,266	$2,307,462	$1,841,664
Net income per share:
Basic	$0.93	$0.72	$1.78	$1.39
Diluted	$0.92	$0.72	$1.78	$1.39
Number of shares used in per share calculations:
Basic	1,287,109	1,316,293	1,293,173	1,321,067
Diluted	1,291,469	1,322,201	1,297,767	1,326,933

Lam Research Corporation 2025 Q2 10-Q 3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three Months Ended		Six Months Ended
	December 29,2024	December 24,2023	December 29,2024	December 24,2023
Net income	$1,191,018	$954,266	$2,307,462	$1,841,664
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(48,613)	14,530	(3,487)	(6,148)
Cash flow hedges:
Net unrealized gains during the period	4,552	1,671	2,116	10,269
Net gains reclassified into net income	(2,260)	(12,826)	(2,364)	(21,743)
	2,292	(11,155)	(248)	(11,474)
Available-for-sale investments:
Net unrealized gains during the period	—	102	—	284
Net gains reclassified into net income	—	—	—	(10)
	—	102	—	274
Defined benefit plans, net change in unrealized component	39	179	78	360
Other comprehensive income (loss), net of tax	(46,282)	3,656	(3,657)	(16,988)
Comprehensive income	$1,144,736	$957,922	$2,303,805	$1,824,676

Lam Research Corporation 2025 Q2 10-Q 4

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.