KLA Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - KLA Corporation (KLAC) reported earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $582.53 million, or $4.28 per share. This compares with $978.80 million, or $6.89 per share, in last year's second quarter.

Excluding items, KLA Corporation reported adjusted earnings of $839.20 million or $6.16 per share for the period.

Analysts on average had expected the company to earn $5.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.4% to $2.49 billion from $2.98 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $582.53 Mln. vs. $978.80 Mln. last year. -EPS (Q2): $4.28 vs. $6.89 last year. -Analyst Estimates: $5.91 -Revenue (Q2): $2.49 Bln vs. $2.98 Bln last year.

-Guidance: Next quarter EPS guidance: $4.66 - $5.86 Next quarter revenue guidance: $2.175 - $2.475 Bln