FormFactor Inc (NASDAQ:FORM) shares are rising in extended trading Wednesday after the company posted better-than-expected results for the second quarter and issued strong guidance.
- FormFactor stock is climbing today. Why is FORM stock surging?
FormFactor Delivers Double Beat In Q2
- Q2 Revenue: $258.24 million, versus estimates of $240 million
- Q2 Adjusted EPS: 82 cents, versus estimates of 61 cents
Total revenue was up 14.2% on a year-over-year basis. The semiconductor test and measurement tech company said it experienced broad-based demand in the quarter, with strength in High Bandwidth Memory and Co-Packaged Optics.
“Over the past four quarters, FormFactor has grown revenue more than 30%, expanded Non-GAAP gross margin 1,500 basis points, and tripled earnings per share,” said Mike Slessor, CEO of FormFactor.
“These improvements reflect years of investment to create and expand our unique position at the intersection of high-performance compute and advanced packaging.”
Looking ahead, FormFactor guided for third-quarter revenue in the range of $260 million to $280 million versus estimates of $247.35 million. The company anticipates third-quarter adjusted earnings of 77 cents to 95 cents per share, versus estimates of 63 cents per share.
FORM Shares Soar After The Close
FORM Price Action: FormFactor shares were up 15.34% in after-hours, trading at $96.25 at the time of publication on Wednesday, according to Benzinga Pro.
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