一句话总结
KLA and Lam Research reported nearly aligned quarters ended September 2026: Lam posted revenue of $8.219 billion, up 54% year on year, and KLA $4.136 billion, up 28.9%; both guide continued growth, confirming the AI-driven equipment investment cycle.
About the Comparison
Q: Why compare KLA and Lam Research together?
Both are US-listed semiconductor equipment giants with nearly overlapping fiscal quarters (both ended late September 2026), reporting just a week apart (Lam on October 21, KLA on October 28), which allows a like-for-like comparison.
Q: What roles do they play in the value chain?
KLA specializes in process control (metrology and defect inspection), the yield-control role; Lam specializes in deposition and etch, the thin-film and patterning role. Both are driven by advanced nodes, HBM and advanced packaging.
Results
Q: What were the results?
Lam: revenue of $8.219 billion, up 54% YoY and 22% QoQ; net income of $2.753 billion; non-GAAP EPS of $2.20. KLA: revenue of $4.136 billion, up 28.9% YoY; net income of $1.549 billion; non-GAAP EPS of $1.22.
Q: Why did Lam's stock fall after hours despite faster growth?
Per Zhitong Finance, Lam fell about 6% to 10% at times after hours, with the market focusing on printed circuit board (PCB) and module component (MFC) supply-chain constraints affecting delivery timing, rather than demand.
Guidance and Signals
Q: What is the guidance for next quarter?
Lam: revenue of $8.6B ± $400M; non-GAAP EPS of $2.33 ± $0.15. KLA: revenue of $4.7B ± $200M (implying roughly +42.5% YoY); non-GAAP EPS of $1.44 ± $0.11.
Q: What industry signal do these reports send?
Both managements attribute growth to AI-driven equipment investment in advanced nodes, HBM and advanced packaging; KLA also noted its tenth consecutive quarter of YoY revenue growth.
Q: How should investors read this?
This FAQ only compiles public disclosures and is not investment advice. Cross-check earnings-call transcripts, supply-chain data and subsequent reports.