MILPITAS, Calif. (AP) _ KLA Corporation (KLAC) on Wednesday reported fiscal first-quarter earnings of $1.03 billion.

On a per-share basis, the Milpitas, California-based company said it had net income of $7.20. Earnings, adjusted for non-recurring gains, came to $7.06 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $6.22 per share.

The maker of equipment for manufacturing semiconductors posted revenue of $2.72 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.59 billion.

For the current quarter ending in December, KLA expects its per-share earnings to range from $6.30 to $7.70. Analysts surveyed by Zacks had forecast adjusted earnings per share of $6.23.

The company said it expects revenue in the range of $2.65 billion to $2.95 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $2.6 billion.

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

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