KLA Corp stock rises as Q1 earnings top estimates, outlook strong

October 31, 2024 08:19 AM AEDT | By Investing

Google News:

KLA Corp stock rises as Q1 earnings top estimates, outlook strong

Recent News

Terra Uranium Shifts Focus with NSW Asset Deal and Tungsten Expansion...

ASX 200 Rises Midweek as Utilities and Materials Lead Sector Gains

All Ordinaries| AuKing Mining (ASX:AKN) strengthens financial base for...

ASX 300| St George Mining (ASX:SGQ) Ramps Up Exploration at Araxá Proj...

Investing.com -- KLA Corporation (NASDAQ:KLAC) reported first quarter fiscal 2025 results that exceeded analyst expectations, with the semiconductor equipment maker also providing an upbeat outlook that sent its shares higher in after-hours trading.

KLA posted adjusted earnings per share of $7.33 for the quarter ended September 30, beating the analyst consensus of $7.04. Revenue came in at $2.84 billion, above estimates of $2.75 billion and up from $2.69 billion in the same quarter last year, representing a 5.6% YoY increase.

The company's outlook for the current quarter was also strong, with KLA forecasting second quarter EPS of $7.75 +/- $0.60, above the $7.40 consensus. Revenue is expected to be $2.95 billion +/- $150 million, higher than analyst projections of $2.85 billion.

KLA's stock rose 2% following the earnings release, as investors reacted positively to the results and guidance.

"KLA's September quarter results demonstrate continued outperformance with results above expectations," said Rick Wallace, president and CEO of KLA Corporation. He added that the company is "optimistic about continued semiconductor market growth in the fourth calendar quarter of 2024 and into calendar 2025."

The company reported strong cash flow, with operating cash flow of $995.2 million for the quarter. KLA also returned $765.5 million to shareholders through dividends and share repurchases during the period.

This article first appeared in Investing.com

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.