Lam Research
Q4 2022 Earnings Call
Jan 25, 2023, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Lam Research December 2022 earnings conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Tina Correia, corporate VP of investor relations and corporate finance. Please go ahead.
Tina Correia -- Corporate Vice President, Corporate Finance and Investor Relations
Thank you, operator, and good afternoon, everyone. Welcome to the Lam Research quarterly earnings conference call. With me today are Tim Archer, president and chief executive officer; and Doug Bettinger, executive vice president and chief financial officer. During today's call, we will share our overview on the business environment, and we'll review our financial results for the December 2022 quarter and our outlook for the March 2023 quarter.
The press release detailing our financial results was distributed a little after 1:00 p.m. Pacific Time this afternoon. The release can also be found on the Investor Relations section of the company's website, along with the presentation slides that accompany today's call. Today's presentation and Q&A include forward-looking statements that are subject to risks and uncertainties reflected in the risk factors disclosed in our SEC public filings.
Please see accompanying slides in the presentation for additional information. Today's discussion of our financial results will be presented on a non-GAAP financial basis unless otherwise specified. A detailed reconciliation between GAAP and non-GAAP results can be found in the accompanying slides in the presentation. This call is scheduled to last until 3:00 p.m.
Pacific Time. A replay of this call will be made available later this afternoon on our website. And with that, I'll hand the call over to Tim.
Tim Archer -- President and Chief Executive Officer
Thank you, Tina, and Happy New Year to all that are joining us today. Lam ended 2022 on a strong note. We posted record revenues and earnings per share for both the December quarter and the calendar year. Systems revenue growth in our Foundry Logic segment exceeded Foundry Logic wafer fabrication equipment growth, demonstrating our continued progress launching new tools and winning applications in that space.
In our installed base business, our CSBG revenues expanded faster than the growth in installed base units. We also generated more than $3.5 billion in cash from operations and returned over 100% of free cash flow to stockholders in the form of dividends and share buybacks. Overall, Lam executed well in 2022. We delivered solid results in an environment of acute supply chain constraints and strong inflationary pressures.