Shares of FormFactor Inc. (NASDAQ: FORM) experienced a significant sell-off in after-hours trading on October 30, 2024, plunging 6.64% despite the company reporting better-than-expected third-quarter results.
The semiconductor testing company reported Q3 2024 earnings of $0.35 per share, surpassing analysts' estimates of $0.31 per share. Revenue for the quarter also came in at $207.9 million, beating expectations of $200.3 million.
However, FormFactor's guidance for the fourth quarter failed to impress investors. The company projected revenue in the range of $185 million to $195 million for Q4 2024, with the midpoint of $190 million falling short of analysts' expectations of $199.6 million. Additionally, FormFactor's adjusted EPS guidance for Q4 2024 of $0.29 at the midpoint was lower than the consensus estimate of $0.34.
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