FormFactor Shares Drop 11% Despite Beating Q3 Estimates and Raising Guidance
FormFactor (FORM) shares fell 11% in extended trading following its third-quarter earnings report. Despite the price decline, the semiconductor testing and measurement firm reported an adjusted earnings per share of $1.04, surpassing analyst expectations for the period ending September 26. The market reaction stands in contrast to the company's strong performance throughout the year, with shares having climbed 86% year-to-date. While the company provided positive revenue guidance and beat quarterly estimates, investors reacted negatively to the news during after-hours trading.
Tickers: $FORM
Topics: earnings report semiconductor industry stock price movement