Q2 2025 KLA Corp Earnings Call Transcript
Key Points
- KLA Corp (KLAC) achieved a record revenue of $10.85 billion in 2024, marking a 12% growth year-over-year.
- The company maintained industry-leading gross and operating margins at 61% and 41%, respectively.
- KLA Corp's Services business grew 15% to $2.5 billion for the year, marking 50 consecutive quarters of growth.
- Advanced Packaging revenue is expected to exceed $800 million in 2025, up from $500 million in 2024.
- KLA Corp returned $2.9 billion to shareholders through dividends and share buybacks in 2024.
- KLA Corp faces a potential $500 million revenue impact in 2025 due to new US government export controls affecting China.
- The company's China revenue is expected to decline by approximately 20% in 2025.
- There is uncertainty regarding the processing of export licenses by the US government, which could affect revenue.
- Operating expenses are expected to increase by approximately $15 million per quarter in 2025.
- The effective tax rate is expected to rise slightly to approximately 14% in the second half of 2025 due to global taxation changes.
Good afternoon. My name is Todd, and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation December quarter 2024 earnings conference call and webcast. (Operator Instructions)
I will now turn the call over to Kevin Kessel, Vice President of Investor Relations and Market Analytics. Please go ahead.
Welcome to our earnings call to discuss the December quarter and calendar year 2024 results and outlook. I'm joined by our CEO, Rick Wallace; and our CFO, Bren Higgins. We will discuss today's results released after the market close and available at ir.kla.com, along with supplemental materials. Today's discussion and metrics are presented on a non-GAAP financial basis, unless otherwise specified. All full-year references we make are to calendar years.
The earnings materials contain a detailed reconciliation of GAAP to non-GAAP results. KLA's IR website also contains future investor events, presentations, corporate governance
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