Q1 FY24 Outlook: KLAC expects revenues of $2.35 billion (+/- $125 million) vs. consensus of $2.23 billion and adjusted EPS of $5.35 (+/- $0.60) vs. consensus of $4.74. 

"KLA's June quarter results exceeded expectations, demonstrating the combination of the broad strength of our portfolio, focused operational execution and high-performing teams coming together to deliver against our financial objectives in what remains a challenging demand environment. KLA continues to be focused on supporting our customer requirements while maintaining critical R&D investments to enable our technology roadmap. Our results are the latest example of successfully meeting or exceeding our commitments and creating value for our customers, partners and shareholders," said Rick Wallace, president and CEO. 

In response to strong earnings, Wells Fargo and JP Morgan raised the price target to $575 (from $500) and $560 (from $445), respectively, maintaining an Overweight rating.