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Benzinga
Benzinga
Business
Avi Kapoor

Tower Semiconductor Analysts Boost Their Forecasts After Upbeat Q2 Earnings

Tower Semiconductor Semiconductor TSEM
Stuttgart,,Germany,-,07-24-2022:,Cellphone,With,Logo,Of,Israeli,Company

Tower Semiconductor Ltd. (NASDAQ:TSEM) reported better-than-expected second-quarter financial results on Monday.

The company reported a quarterly revenue growth of 6% year-on-year (Y/Y) to $372.06 million, compared to the analyst consensus estimate of $370.23 million. The Israel-based contract chipmaker's adjusted EPS of 50 cents beat the analyst consensus estimate of 45 cents.

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