KLA results beat Wall Street estimates, but shares fall on high investor expectations

KLA Corp on Tuesday beat fourth-quarter revenue estimates and forecast first-quarter revenue above Wall Street expectations, but its shares fell 9% in extended trading as the results failed to meet investor expectations.

The company’s shares have risen more than 57% so far this year, driven by ‌higher demand ⁠from foundries ⁠and memory-chip makers expanding capacity to support the data-intensive requirements of generative AI applications.