Tower Semiconductor (NASDAQ: TSEM) stock gained after it reported fiscal second-quarter results on Monday.

The company reported a quarterly revenue growth of 6% year-on-year (Y/Y) to $372.06 million, compared to the analyst consensus estimate of $370.23 million.

The Israel-based contract chipmaker’s adjusted EPS of 50 cents beat the analyst consensus estimate of 45 cents.

Also Read: Tower Semiconductor Adapts To Nvidia’s Architectural Shift, Analyst Sees Growth In AI Optical Networks

Gross profit was $80 million, down 7.9% Y/Y. The …

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