KLA Corp Stock Inches Higher Following Q1 Earnings - Here's Why

KLA Corporation KLAC shares are trading higher in Wednesday's after-hours session on the heels of the company's first-quarter earnings results. Here's a summary.

What To Know: KLA Corporation reported earnings of $5.74 per share, beating the $5.41 estimate. The company posted sales of $2.397 billion, beating the estimated $2.362 billion. 

Cash flow from operating activities for the quarter was $883.7 million, and $3.54 billion over last twelve months.

Second-quarter earnings per share are estimated to be between $5.26 and $6.46 versus the $5.51 estimate. Revenue is anticipated to be $2.45 billion +/- $125 million versus the 2.4 billion estimate.

"KLA's September quarter results were at the high-end or above the midpoint of the guidance ranges for revenue and earnings per share, demonstrating the strength of KLA's market leadership and operational execution, while also delivering solid free cash flow generation," said Rick Wallace, president and CEO, KLA Corporation.

"Despite the challenging market conditions, our continued strong performance highlights the relative value of KLA products and services to our customers, the resiliency of the KLA Operating Model and our commitment to delivering long-term value to all stakeholders."

Related Link: ServiceNow Stock Gains After-Hours On Q3 Earnings: Here's Why

KLAC Price Action: Shares of KLAC were up 1.57% at $462.01 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Willfried Wende from Pixabay