Tower Semiconductor Q1 2024 Adj EPS $0.46 Beats $0.39 Estimate, Sales $327.238M Beat $324.520M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tower Semiconductor (NASDAQ:TSEM) reported Q1 2024 adjusted EPS of $0.46, surpassing the $0.39 estimate, with sales of $327.238M also beating the $324.520M estimate. However, this represents a 7.98% decrease in sales compared to the same period last year.
May 09, 2024 | 11:06 am
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Tower Semiconductor reported higher than expected Q1 2024 earnings and sales, with an EPS of $0.46 against estimates of $0.39 and sales of $327.238M against estimates of $324.520M.
Beating both earnings and sales estimates typically has a positive impact on a company's stock price in the short term. Investors often view exceeding analyst expectations as a sign of a company's strong performance and potential for future growth. However, the reported decrease in sales year-over-year might temper some of the positive sentiment, but the immediate reaction to earnings and sales beats is generally positive.
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