(Updates with latest stock price movement in the headline and first paragraph.)
Tower Semiconductor (TSEM) shares were up nearly 15% in recent Wednesday trading after the company reported Q3 results that improved year-over-year and topped Wall Street expectations.
The company reported Q3 adjusted earnings of $0.57 per diluted share, up from $0.54 a year earlier.
Three analysts polled by Capital IQ expected $0.53.
Revenue for the quarter ended Sept. 30 was $370.5 million, up from $358.2 million a year earlier.
Three analysts surveyed by Capital IQ expected $370 million.
Tower Semiconductor said it expects Q4 revenue of $387 million, plus or minus 5%.
Three analysts polled by Capital IQ expect $380.1 million.
Price: 49.41, Change: +6.31, Percent Change: +14.63
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