Stock Track | FormFactor Surges in Pre-market on Impressive Q3 Earnings Beat

Stock Track

Nov 01, 2024

Shares of FormFactor Inc. (NASDAQ: FORM) soared over 5% in pre-market trading on Thursday, following the company's better-than-expected third-quarter earnings results for 2024.

The semiconductor company reported revenue of $207.9 million for the quarter, up 21% year-over-year, surpassing analyst estimates by 3.8%. Earnings per share (EPS) came in at $0.24, a significant 27% beat against forecasts.

FormFactor's profitability also saw a remarkable improvement, with net income skyrocketing 329% to $18.7 million compared to the same period last year. The company's profit margin expanded to 9.0%, up from 2.5% in the third quarter of 2023.

Looking ahead, analysts expect FormFactor's revenue to grow at an average of 8.6% annually over the next three years, outpacing the 18% growth forecast for the broader U.S. semiconductor industry.

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(NASDAQ: FORM) soared over 5% in pre-market trading on Thursday, following the company's better-than-expected third-quarter earnings results for 2024.</p>\n\n<p>The semiconductor company reported revenue of $207.9 million for the quarter, up 21% year-over-year, surpassing analyst estimates by 3.8%. Earnings per share (EPS) came in at $0.24, a significant 27% beat against forecasts.</p>\n\n<p>FormFactor's profitability also saw a remarkable improvement, with net income skyrocketing 329% to $18.7 million compared to the same period last year. The company's profit margin expanded to 9.0%, up from 2.5% in the third quarter of 2023.</p>\n\n<p>Looking ahead, analysts expect FormFactor's revenue to grow at an average of 8.6% annually over the next three years, outpacing the 18% growth forecast for the broader U.S. semiconductor industry.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FORM","symbol_name":"FormFactor","start_time":0,"source_url":"","article_id":"1107388710","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1107388710","pubTimestamp":1730467712,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of FormFactor Inc.  soared over 5% in pre-market trading on Thursday, following the company's better-than-expected third-quarter earnings results for 2024.The semiconductor company reported revenue of $207.9 million for the quarter, up 21% year-over-year, surpassing analyst estimates by 3.8%. 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