Lam Research Q1 Sales Jump 54% on AI Demand from Asia

Lam Research posted Q1 adjusted EPS of $2.20, above the $2.18 estimate, on revenue of $8.22 billion versus $8.14 billion expected. CEO Tim Archer cited AI-driven demand and device complexity. Q2 revenue guidance of $8.60 billion at the midpoint matched the $8.57 billion consensus; adjusted EPS guidance of $2.33 was in line.