Tower Semiconductor Ltd.
(NASDAQ:TSEM) reported stronger-than-expected second-quarter results and issued upbeat third-quarter guidance.
The Israel-based chip foundry posted second-quarter revenue of $460.08 million, up 24% from a year earlier and ahead of analysts' estimates of $454.68 million.
Adjusted earnings came in at 88 cents per share, topping Wall Street expectations of 76 cents per share.
The Nasdaq is up 2.55% while the S&P 500 has gained 1.28%. • Tower Semiconductor stock is among today's top performers.
