Why Tower Semiconductor Stock Is Surging Today: TSEM Beats Q2 Earnings, Issues Strong Q3 Outlook
Tower Semiconductor Ltd. (NASDAQ: TSEM ) reported stronger-than-expected second-quarter results and issued upbeat third-quarter guidance. The Israel-based chip foundry posted second-quarter revenue of $460.08 million, up 24% from a year earlier and ahead of analysts’ estimates of $454.68 million. Adjusted earnings came