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KLA expects first-quarter revenue above estimates on AI boom
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +2 min
July 27 (Reuters) - Chip-making tools maker KLA Corp (KLAC.O) forecast first-quarter revenue and profit above Wall Street estimates on Thursday, boosted by higher investments in artificial intelligence (AI), sending its shares up nearly 3% after the bell. KLA makes tools for inspecting the silicon wafer discs, on which semiconductors are built, for defects. The company, forecast first-quarter adjusted profit of $5.35 per share, plus or minus 60 cents. In the quarter ended June 30, revenue came in at $2.36 bln while adjusted profit was $5.40 per share. That compared with analysts' estimate for revenue of $2.26 bln and adjusted profit of $4.85.
Persons: OpenAI's ChatGPT, Bren Higgins, Akash Sriram, Akshita Toshniwal, Tanya Jain, Max A, Arun Koyyur, Cynthia Osterman Organizations: KLA Corp, Wall, Companies, Intel, Samsung, Texas Instruments, Micron, North, Thomson Locations: China, United States, Taiwan, North America, Bengaluru, San Francisco
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