KLA CORP Earnings Summary — Q3 2026

• Revenue grew 11.49% year-over-year to $3.415 billion, indicating strong demand for process control tools.
• Net income rose to $1.201 billion, continuing a trend of robust profitability in the semiconductor sector.
• Operating leverage remains strong with an operating margin exceeding 41% despite rising R&D costs.
• The company has scaled significantly from its 2019 levels, now regularly exceeding $3B in quarterly revenue.
• Research & Development expenses reached $388.76 million, highlighting the capital-intensive nature of maintaining node leadership.
• KLA maintains a dominant position in the optical inspection and metrology niche, insulation from broader cyclicality.
• Shares outstanding decreased slightly to 1.309 billion, reflecting ongoing share buyback execution.

Management remains focused on 'Process Control' as a mission-critical component of the semiconductor ecosystem as chip architectures increase in complexity.

Improving

Year-over-year revenue growth accelerated to 11.5% from 7.2% in the previous quarter, signaling strengthening momentum in the WFE market.

The transition to advanced nodes provides a structural tailwind for KLA's metrology and inspection tools, though geopolitical export controls remain a key risk factor.