KLA Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - KLA Corporation (KLAC) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $741 million, or $5.41 per share. This compares with $1.03 billion, or $7.20 per share, in last year's first quarter.

Excluding items, KLA Corporation reported adjusted earnings of $786 million or $5.74 per share for the period.

Analysts on average had expected the company to earn $5.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.8% to $2.40 billion from $2.72 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $741 Mln. vs. $1.03 Bln. last year. -EPS (Q1): $5.41 vs. $7.20 last year. -Analyst Estimates: $5.40 -Revenue (Q1): $2.40 Bln vs. $2.72 Bln last year.

-Guidance: Next quarter EPS guidance: $5.26 to $6.46 Next quarter revenue guidance: $2.325 to $2.575 bln