Tower Semiconductor Q4 Adj EPS $0.55 Beats $0.52 Estimate, Sales $351.71M Beat $350.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tower Semiconductor (NASDAQ:TSEM) reported Q4 adjusted EPS of $0.55, surpassing the $0.52 estimate, with sales of $351.71M exceeding the $350.00M estimate. This represents a 26.67% decrease in earnings and a 12.78% decrease in sales from the same period last year.
February 14, 2024 | 12:04 pm
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Tower Semiconductor reported higher-than-expected Q4 earnings and sales, with an EPS of $0.55 and sales of $351.71M, beating estimates.
Beating both earnings and sales estimates typically has a positive impact on a company's stock price in the short term. Despite the year-over-year declines, the fact that Tower Semiconductor exceeded analyst expectations could lead to positive investor sentiment and a potential increase in stock price.
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