KLA Corporation Q1 Profit Increases, Beats Estimates

(RTTNews) - KLA Corporation (KLAC) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $945.85 million, or $7.01 per share. This compares with $741.38 million, or $5.41 per share, in last year's first quarter.

Excluding items, KLA Corporation reported adjusted earnings of $988.15 million or $7.33 per share for the period.

Analysts on average had expected the company to earn $7.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.6% to $2.841 billion from $2.396 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $945.85 Mln. vs. $741.38 Mln. last year. -EPS (Q1): $7.01 vs. $5.41 last year. -Revenue (Q1): $2.841 Bln vs. $2.396 Bln last year.

-Guidance: Next quarter EPS guidance: $7.15 - $8.35 Next quarter revenue guidance: $2.800 - $3.100 Bln