KLA Q3 Earnings Beat, Shares Drop 7%

KLA posted Q3 adjusted EPS $9.40 beating consensus $9.15 and revenue $3.42B beating $3.36B estimate, up 11.5% YoY.
Free cash flow fell to $622.3M from $990M a year earlier, while operating cash flow was $707.5M for the quarter.
Board approved a dividend increase to $2.30 per share and authorized an additional $7 billion for share repurchases.
Company guided Q4 adjusted EPS $9.87 (±$1) and revenue $3.575B (±$200M), slightly above analyst expectations.