Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) Significant revenue growth for the second quarter of 2021. The Israeli company reported $362 million in revenue for the second quarter, up 4.3% from the previous quarter, and up 16.8% from the corresponding quarter of 2020. The number was higher With little consensus from analysts on revenue of $360 million. Tower reported net profit of $28.3 million, up from $19.1 million in the corresponding quarter of 2020. Earnings per share were $0.34 in the second quarter of 2021, slightly above analysts’ expectations of $0.33. Borg generated $385 million in revenue in the third quarter with a range of 5% more or less. Tower CEO Russell Ellwanger said: “We are excited about our record second-quarter 2021 revenue performance, driving third-quarter revenue guidance of continued significant growth, and breaking our $1.5 billion annual run rate. We remain confident that we are serving the right customers. In the right markets as evidenced by our mid-term organic revenue growth guidance of 38% year over year.” He added, “We are actively executing our expansion plans and therefore expect continued growth in the fourth quarter of 2021 in both top and bottom line earnings. Our announced partnership with ST Microelectronics at our Agrate, Italy 300mm plant will significantly enhance our 300mm capabilities, from order to strengthen our leading position in advanced 300mm-based analog radio frequencies, power platforms, displays and other technologies.” Posted by Globes, Israel business news – en.globes.co.il – August 2, 2021 © Globes Publisher Itonut (1983) Ltd. 2021
Borg achieves the highest revenues and profits in the second quarter
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