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home / news releases / TSEM - Tower Semiconductor rises on Q2 beat

TSEM - Tower Semiconductor rises on Q2 beat

Tower Semiconductor Ltd.

2023-07-26 08:27:10 ET

Tower Semiconductor ( NASDAQ: TSEM ) rose ~12% Wednesday pre-market after the semiconductor company reported a Q2 beat.

Q2 GAAP EPS of $0.46 beats by $0.03 and revenue of $357.19M (-16.2% Y/Y) beats by $2.76M.

Gross profit stood at $87M, down from the year-ago $112M.

Operating profit was $51M, compared to $71M a year ago.

The company repaid $10M of its debt during the quarter.

The company said that it is not providing revenue guidance for Q3, in light of the definitive agreement with Intel.

For further details see:

Tower Semiconductor rises on Q2 beat
Stock Information
Company Name: Tower Semiconductor Ltd.
Stock Symbol: TSEM
Market: NASDAQ
Website: towersemi.com
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