KLA Corporation (KLAC) reported a revenue of $2.72 billion, up 31% from last year with an EPS of $6.95.
KLA Corporation (KLAC) posted a revenue of $2.72 billion for the quarter ended 30 September 2022, beatings analyst forecast by $120 million, and up 31% from last year’s revenue of $2.08 billion for the same period. Net income rose by 43% on a year–on–year comparison to $1.03 billion, from $716 million last year. President and CEO Rick Wallace commented on the company’s performance, “Despite signs of weakness across a broad set of electronics end markets and an increasingly challenging macro-economic backdrop, our December quarter outlook for sequential growth underscores the resiliency of our business and the strong demand for our critical products and services.”
EPS was $6.95, beating estimates of $6.2, 20% higher compared to the last quarter EPS of $5.81 and nearly 50% higher from last year’s EPS of $4.67. The company provided guidance on the upcoming quarter with revenue to range between $2.65 billion to $2.95 billion, and EPS to range between $6.3 to $7.7. Analysts have a positive outlook on the stock with 70% recommending a buy, while the remaining recommend a hold and a twelve-month target price of $356.2.
