KLA Corporation Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $602 million, or $4.43 per share. This compares with $698 million, or $5.03 per share, in last year's third quarter.

Excluding items, KLA Corporation reported adjusted earnings of $715 million or $5.26 per share for the period.

Analysts on average had expected the company to earn $5.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.7% to $2.36 billion from $2.4 billion last year.

KLA Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $602 Mln. vs. $698 Mln. last year. -EPS (Q3): $4.43 vs. $5.03 last year. -Revenue (Q3): $2.36 Bln vs. $2.4 Bln last year.