Tower Semiconductor reports Q3 adjusted EPS 57c, consensus 53c

Reports Q3 revenue $371M, consensus $370.32M. Russell Ellwanger, Chief Executive Officer of Tower Semiconductor (TSEM), stated: “Throughout this year, including our fourth quarter guidance, we have and will deliver quarter-over-quarter revenue growth. This is driven by strong double-digit year-over-year revenue increases across key technology platforms, including our advanced 300mm RF SOI, 65nm Power BCD, and cutting-edge Silicon Photonics and Silicon Germanium offerings. Our unwavering focus on multi-generation innovation, tied to strong and close partnerships with industry leading customers, continues to position us as an essential contributor to the technologies powering the future.”