By Katherine Hamilton
KLA's profit rose in its second quarter and revenue hit the upper end of what the company had previously expected.
Shares increased about 4% to $771.10 after markets closed. The stock is up 24% over the past 12 months.
The electronics manufacturer posted a profit of $824.5 million, or $6.16 a share, in the three months ended Dec. 31, up from $582.5 million, or $4.28 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $8.20, ahead of the $7.75 forecast by analysts, according to FactSet.
Second-quarter revenue rose 24% to $3.08 billion. Analysts surveyed by FactSet forecast revenue of $2.95 billion. KLA previously guided for revenue between $2.8 billion and $3.1 billion.
The Milpitas, Calif.-based company said its return to growth is led by expanding artificial intelligence and computing investments. Its portfolio of solutions has been helping customers navigate increasing technology complexity.
KLA expects third-quarter revenue of $2.85 billion to $3.15 billion and adjusted earnings per share of $7.45 to 8.65.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 30, 2025 16:50 ET (21:50 GMT)
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