(Reuters) – Against Toup Maker Tower Semiconductor Toup Toup Income of the second quarter above the estimates of Wall Street on Wednesday, driven by a high demand for wireless communication and power management chips.
The company based in Israel specializes in the manufacture of analog and mixed semiconductors, addressing industries such as automotive, industry, consumer electronics and communications.
Although the request for key industries such as the automobile was agitated in the last quarters, with inventory corrections and a softer electric vehicle request weighing on orders, the semiconductor of the tower benefits from a higher demand in other final markets.
The company said it has seen record income from radiofrequency infrastructure technologies, used in wireless communication and detection applications.
Tower Semiconductor plans a turnover in the second quarter of $ 372 million, with an upward or downward range of 5%, slightly higher than the estimates of analysts of $ 371.3 million, according to data compiled by LSEG.
Tower Semiconductor has also increased capacity by expanding its facilities in Agrate, Italy. Although this has increased costs, he has always declared an adjusted benefit of 45 cents per share in the first quarter, beating estimates of 38 cents.
The company has also reaffirmed its sequential growth expectations of its quarterly income throughout the year. He declared a turnover of $ 358.2 million for the closed quarter on March 31, in accordance with estimates.
The actions listed by the United States of the company has decreased by around 1% in the market prior to the market.
(Report by Meghana Khare; edition by Shailesh Kuber)
