U.S. Markets closed

KLA: Fiscal 2Q Earnings Snapshot

MILPITAS, Calif. (AP) _ KLA Corporation (KLAC) on Tuesday reported fiscal second-quarter net income of $380.6 million.

The Milpitas, California-based company said it had profit of $2.40 per share. Earnings, adjusted for non-recurring costs, were $2.66 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.

The maker of equipment for manufacturing semiconductors posted revenue of $1.51 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.48 billion.

KLA shares have increased slightly since the beginning of the year, while the Standard & Poor's 500 index has climbed 2%. In the final minutes of trading on Tuesday, shares hit $178.51, a rise of 67% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KLAC at https://www.zacks.com/ap/KLAC