KLA Corporation Q1 Profit Beats Estimates

(RTTNews) - KLA Corporation (KLAC) reported a profit for first quarter that beat the Street estimates.

The company's bottom line came in at $1.03 billion, or $7.20 per share. This compares with $1.07 billion, or $6.96 per share, in last year's first quarter.

Excluding items, KLA Corporation reported adjusted earnings of $1.01 billion or $7.06 per share for the period.

Analysts on average had expected the company to earn $6.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.8% to $2.72 billion from $2.08 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.03 Bln. vs. $1.07 Bln. last year. -EPS (Q1): $7.20 vs. $6.96 last year. -Analyst Estimates: $6.21 -Revenue (Q1): $2.72 Bln vs. $2.08 Bln last year.

-Guidance: Next quarter EPS guidance: $6.30 - $7.70 Next quarter revenue guidance: $2,650 - $2,950 Mln