KLA Corporation · KLAC · FY2024 Q4 · Calendar Q3 2024

KLA sees AI and advanced packaging supporting continued growth

The supplied earnings analysis supports the view that resilient AI-related demand, advanced-node complexity, HBM and services can support KLA’s growth trajectory, but the outlook remains sensitive to node timing, memory intensity, China demand and the order pipeline.

Reported After market closeNASDAQTechnology $216.29B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $6.60 Consensus $6.15
EPS surprise +7.3% Reported versus consensus
Reported revenue $2.57B Consensus $2.52B
Revenue surprise +1.8% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +0.9% Event window
SPY move -0.5% Same window
Abnormal move +1.4% Stock minus SPY
Volume 2.2× Versus trailing sessions
Subsequent drift +4.7% Up to 20 sessions
KLACSPY benchmark

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Why did KLAC rise 0.9% after beating EPS estimates in FY2024 Q4?What changed in KLAC's guidance and outlook in FY2024 Q4?Give me the bull and bear case for KLAC after FY2024 Q4 earnings.

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Transcript intelligence

What changed

Management raised the 2024 advanced-packaging revenue estimate from $400 million to more than $500 million and linked AI demand to both front-end wafer inspection and back-end packaging. The company also highlighted improving services utilization while maintaining guidance.

Guidance delta

Management maintained guidance and projected September-quarter revenue of $2.75 billion with gross margin around 61%-62%.

Key takeaways

  • June-quarter revenue and non-GAAP EPS beat the midpoint of guidance.
  • Management raised its 2024 advanced-packaging revenue estimate to more than $500 million.
  • AI-enabled wafer manufacturing, leading-edge nodes, HBM and services were identified as demand drivers.
  • China revenue was expected to be flat year over year.

Management priorities

  • Roll out and expand Gen 4 and Gen 5 Broadband Plasma inspection systems
  • Scale advanced-packaging process-control solutions
  • Invest in AI-enabled metrology and inspection capabilities
  • Expand services contracts as equipment moves from warranty to contract

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Earnings History

Estimate Beat Miss Match
KLAC EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q3 '24 estimate $5.01 Q3 '24 actual $5.26, beat Q4 '24 estimate $6.15 Q4 '24 actual $6.60, beat Q1 '25 estimate $7.05 Q1 '25 actual $7.33, beat Q4 '25 estimate $0.85 Q4 '25 actual $0.94, beat Q1 '26 estimate $0.86 Q1 '26 actual $0.88, beat Q2 '26 estimate $0.88 Q2 '26 actual $0.89, match Q3 '26 estimate $0.92 Q3 '26 actual $0.94, beat Q4 '26 estimate $1.00 Q4 '26 actual $1.05, beat Q1 '27 estimate $1.18 Q2 '27 estimate $1.30 Q3 '27 estimate $1.38
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Analyst Consensus ?

ConsensusBuy42 ratings
Bullish2764.3%
Neutral1330.9%
Bearish24.8%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$165.74Current
$26.5Low
$142.91Average
$325High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Morgan Stanley Overweight OverweightMaintainOct 6, 2026
UBS Neutral NeutralMaintainSep 1, 2026
Wells Fargo Overweight OverweightMaintainJul 29, 2026
Susquehanna Neutral NeutralMaintainJul 29, 2026
Stifel Buy BuyMaintainJul 29, 2026
Show 38 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $165.74. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyAnalyst unavailable$227$206.85 +37.0%Oct 6, 2026
UBSAnalyst unavailable$200$175.45 +20.7%Sep 1, 2026
RBC CapitalAnalyst unavailable$180$179.02 +8.6%Jul 29, 2026
SusquehannaAnalyst unavailable$215$190.8 +29.7%Jul 29, 2026
Stifel NicolausAnalyst unavailable$250$190.8 +50.8%Jul 29, 2026
See 121 more

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Company context

Snapshot as of publication

KLA Corporation specializes in creating, manufacturing, and distributing advanced solutions vital for process control, process optimization, and yield enhancement throughout the global semiconductor and broader electronics industries. The company organizes its business into four main segments: Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display and Component Inspection, and an 'Other' category. For integrated circuit (IC) fabrication, KLA offers a comprehensive range of products. These include systems for wafer inspection, review, and metrology; defect inspection and metrology for both wafers/substrates and reticles; chemical and materials quality analysis tools; and real-time process management and wafer handling diagnostics essential for IC and original equipment manufacturer (OEM) production. Furthermore, the company develops software for live process control, defect excursion identification, process corrections, and defect classification. KLA also supplies refurbished and remanufactured equipment.…

Historical context

All KLAC earnings
-10.8%FY2026 Q4 · Calendar Q3 2026-3.6%FY2026 Q3 · Calendar Q2 2026-15.2%FY2026 Q2 · Calendar Q1 2026

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
WIT Wipro Limited FY2027 Q2 · Calendar Q4 2026 -25.0% +3.9% Wipro: AI pipeline expands as Q3 guidance stays narrow
TSM Taiwan Semiconductor Manufacturing Company Limited FY2026 Q3 · Calendar Q4 2026 +3.4% -1.8% TSMC beats Q3 guidance as AI demand drives fab expansion
ERIC Telefonaktiebolaget LM Ericsson (publ) FY2026 Q3 · Calendar Q4 2026 +28.6% +11.8% Ericsson Q3: 7% organic growth, resilient margins and AI-led demand

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
  3. Polygon adjusted daily market bars · 2026-10-18T17:40:40.588890+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T17:40:40.586021+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.