Tower Semiconductor Ltd (TSEM) shares rallied 5.47% in pre-market trading on Monday, following the company's impressive fourth-quarter earnings results that exceeded Wall Street expectations. The semiconductor foundry also provided an optimistic revenue outlook for the current quarter, further fueling investor confidence.
For the fourth quarter of 2024, Tower Semiconductor reported adjusted earnings per share of $0.59, surpassing the consensus estimate of $0.54. Revenue for the quarter reached $387.2 million, slightly exceeding analysts' projections of $387.1 million.
Looking ahead, the company guided for first-quarter 2025 revenue of $358 million, with an upward or downward range of 5%. This forecast surpassed the consensus estimate of $355.54 million, signaling continued growth momentum.
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