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KLA results beat Wall Street estimates, but shares fall on high investor expectations
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By Juby BabuJuly 28 (Reuters) - KLA Corp on Tuesday beat fourth-quarter revenue estimates and forecast first-quarter revenue above Wall Street expectations, but its shares fell 9% in extended trading as the results failed to meet investor expectations.
KLA provides process control and yield management systems, which are critical for identifying and correcting defects during the semiconductor manufacturing process.
Here are some details:• KLA's results and forecast were better than expected, but were not eye-popping by any means, CFRA analyst Brooks Idlet said.
• KLA expects first-quarter revenue of $4 billion, plus or minus $200 million, ahead of analysts' average estimate of $3.92 billion, according to data compiled by LSEG.
• The semiconductor equipment maker's fourth-quarter revenue grew 15.1% to $3.66 billion, beating estimates of $3.60 billion.