Enovix Stock Moves Higher On Q2 Report, Company Updates On Gen2 Autoline
Portfolio Pulse from Ryan Gustafson
Enovix Corporation (NASDAQ:ENVX) reported Q2 losses of 19 cents per share, beating the analyst consensus estimate of losses of 22 cents. However, the company's quarterly sales of $42,000 missed the analyst consensus estimate of $60,000. The company's CEO, Raj Talluri, highlighted progress on the Gen2 production equipment and confirmed plans for high-volume production in Malaysia next year. The company's shares were up 6.53% after hours at $20.88.
July 26, 2023 | 8:31 pm
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Enovix Corporation's Q2 report showed better than expected EPS but lower than expected sales. The company's shares rose 6.53% after hours.
Enovix Corporation's Q2 report showed a better than expected EPS, which is a positive signal for investors. However, the company's sales were lower than expected, which could be a concern. Despite this, the company's shares rose after hours, indicating a positive market reaction. The company's progress on the Gen2 production equipment and plans for high-volume production in Malaysia next year could also be driving the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100