KLA Corporation (NASDAQ:KLAC) Q2 2024 Earnings Conference Call January 25, 2024 6:00 PM ET
Company Participants
Kevin Kessel - VP, IR and Market Analytics
Richard Wallace - CEO
Bren Higgins - CFO
Conference Call Participants
Harlan Sur - JPMorgan
Joe Quatrochi - Wells Fargo
CJ Muse - Cantor Fitzgerald
Krish Sankar - TD Cowen
Brian Chin - Stifel
Chris Caso - Wolfe Research
Joe Moore - Morgan Stanley
Atif Malik - Citi
Charles Shi - Needham
Timothy Arcuri - UBS
Toshiya Hari - Goldman Sachs
Operator
Good afternoon. My name is Chelsea, and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation December Quarter 2023 Earnings Conference Call and Webcast. All participant lines have been placed in a listen-only mode to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
Kevin Kessel
Thank you for joining the earnings call to discuss the December 2023 results and the March quarter outlook. I'm joined by our CEO, Rick Wallace, and our CFO, Bren Higgins. We will discuss today's results release after the market close and available on our IR website, along with supplemental materials.
Today's discussion is presented on a non-GAAP financial basis, unless otherwise specified. Our full year references all relate to calendar years. A detailed reconciliation of non-GAAP -- of GAAP to non-GAAP results in the earnings material posted on our website. KLA's IR website also contains future investor events as well as presentations, corporate governance information and links to our SEC filings, including our most recent annual report and quarterly reports on 10-Q and 10-K.
Our comments today are subject to risks and uncertainties reflected in the risk factor disclosure in our SEC filings. Any forward-looking statements, including those we make on the call today are subject to those risks, and KLA cannot guarantee those forward-looking statements will come true. Our actual results may differ significantly from those projected in our forward-looking statements. Rick will begin the call with some comments and quarterly highlights. Bren will conclude with our financial highlights, including our guidance and outlook.
I will now turn the call over to our CEO, Rick Wallace. Rick?
Richard Wallace
Thank you, Kevin. I will briefly summarize KLA's performance for 2023 calendar year and December quarter and then set up our view for 2024. For 2023 KLA revenue was almost $9.7 billion, down 8% versus the prior year. This was higher than our expectations coming into the year as strength from legacy node customers and semiconductor infrastructure offset weaker than expected leading edge investments in both logic and memory.