On July 30, FormFactor rose 10.01% overnight, trading at $91.8/share, with turnover of $10,800. The surge was driven by the company's second-quarter earnings release, which significantly exceeded analyst expectations across all key metrics.

Specifically, FormFactor reported Q2 revenue of $258.242 million, well above the consensus estimate of $240 million, representing strong year-over-year growth. Adjusted earnings per share came in at $0.82, beating the $0.61 estimate by 34.43% and surging 203.7% compared to the prior-year period. Adjusted net income reached $65 million, far exceeding the estimated $48.5 million. The company also issued strong forward guidance, further boosting investor confidence.

Notably, prior to the earnings release, FormFactor had experienced significant selling pressure as the broader semiconductor equipment sector weakened for multiple consecutive sessions, with peers including KLA-Tencor down 8.41%, Applied Materials down 5.78%, and Lam Research down 5.07%. The strong earnings report triggered a sharp rebound from those depressed levels, reflecting positive market sentiment toward the company's outperformance.

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