Tower Semiconductor Reports Q3 Earnings Beat and Provides Q4 Outlook
Tower Semiconductor (TSEM) reported third-quarter financial results that exceeded analyst expectations for both top-line revenue and bottom-line earnings per share. The company achieved a GAAP EPS of $1.05, surpassing estimates by $0.10, while revenue reached $526 million, representing a 19.5% increase year-over-year. During the quarter, the company generated $185 million in cash from operating activities and invested $191 million in property and equipment. Following these results, management provided guidance for the fourth quarter to assist investors in forecasting upcoming performance.
Tickers: $TSEM
Topics: cash flow earnings beat GAAP EPS revenue growth
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