Photronics Beats Expectations, Stock Surges

Photronics, a company specializing in chip templates, reported a slight sales drop but exceeded financial predictions with $215.8 million in revenue and a profit of $0.60 per share, surpassing analysts estimates. The company forecasts a 6.8% revenue increase in the next quarter, driven by US operations and Korean expansion plans. Despite recent revenue declines, Photronics has shown steady growth, and their stock price surged 11.5% following the announcement.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.