KLA Corp. shares added to regular-session gains after hours Thursday as the chip-equipment maker’s outlook and results topped Wall Street expectations.
KLA
KLAC,
reported fiscal fourth-quarter net income of $684.7 million, or $4.97 a share, compared with $805.4 million, or $5.40 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $5.40 a share, compared with $5.81 a share in the year-ago period.
Milpitas, Calif.-based KLA’s revenue declined to $2.36 billion from $2.49 billion in the year-ago quarter.
Analysts surveyed by FactSet had forecast adjusted earnings of $4.86 a share on revenue of $2.25 billion, based on KLA’s forecast of $4.23 to $5.43 a share on revenue of $2.13 billion to $2.38 billion.
Shares rose 3% after hours, following a 5.4% rally in the regular session to close at $482.35.
KLA forecast earnings of $4.75 to $5.95 a share on revenue of $2.2 billion to $2.5 billion for the fiscal first quarter. Analysts surveyed by FactSet estimated $4.75 a share on revenue of $2.23 billion for the first quarter.
Year to date, KLA shares have gained 28%, while the PHLX Semiconductor Index
SOX,
has surged 49% and the S&P 500 index
SPX,
has grown 18%.
Results follow those from Lam Research Corp.
LRCX,
which reported results on Wednesday, and led gainers Thursday as chip-equipment suppliers rallied.
Read: Lam Research CEO: AI servers are ‘fundamental’ to driving growth in next several years
This post was originally published on Market Watch
