ACM Research Posts 61c Adj EPS in Q2, Topping Expectations
ACMR has more than doubled off its 52-week low of $23.03.
Summary
ACM Research delivered Q2 adjusted EPS of 61c, beating expectations, and Q2 revenue also beat estimates. The company raised its outlook following the strong quarter. This result follows a Q1 where revenue grew 34% but net income declined, signaling a potential inflection in profitability. ACM Research has been executing on a $150M direct offering and a planned Hong Kong listing for its Shanghai subsidiary.
At the time of this announcement, ACMR was trading at $81.55 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.5B. The 52-week trading range was $23.03 to $127.19. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.