KLA Corporation Q2 Profit Increases, beats estimates

(RTTNews) - KLA Corporation (KLAC) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $979 million, or $6.89 per share. This compares with $717 million, or $4.71 per share, in last year's second quarter.

Excluding items, KLA Corporation reported adjusted earnings of $1.05 billion or $7.38 per share for the period.

Analysts on average had expected the company to earn $7.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.8% to $2.98 billion from $2.35 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $979 Mln. vs. $717 Mln. last year. -EPS (Q2): $6.89 vs. $4.71 last year. -Analyst Estimate: $7.10 -Revenue (Q2): $2.98 Bln vs. $2.35 Bln last year.

-Guidance: Next quarter EPS guidance: $4.52 to $5.92 Next quarter revenue guidance: $2.200 - $2.500 Bln