KLA Corporation (KLAC) reported strong financial results for its second fiscal quarter, although shares fell on a soft outlook for the current quarter.
The company posted Q2 earnings per share (EPS) of $6.16, exceeding the consensus estimate of $5.89. Additionally, the quarterly revenue stood at $2.49 billion, outperforming the consensus estimate of $2.45 billion.
"KLA's December quarter results were ahead of our expectations and capped a solid year that included strong relative margins and free cash flow growth despite a persistently soft market," said Rick Wallace, president and CEO, KLA Corporation.
Looking ahead, KLA anticipates Q3 EPS in the range of $4.66 to $5.86, with the midpoint easily below the consensus of $5.85.
The revenue outlook for Q3 is projected to be between $2.175 billion and $2.425 billion, compared to the consensus estimate of $2.46 billion.
"While market conditions remain challenging in the near-term, with limited visibility regarding the timing of a resumption in sustainable demand, we believe our business has stabilized around current revenue levels.”
KLAC was down 6.3% in response to the FQ2 earnings report and FQ3 outlook.