Axcelis Technologies Shares Fall Despite Q3 Beat

MT Newswires Live11-05

Axcelis Technologies (ACLS) shares were down 6% in Thursday trading despite reporting higher Q3 results that exceeded Wall Street estimates.

The company reported Q3 non-GAAP earnings of $1.26 per diluted share, up from $1.21 a year earlier.

Analysts polled by FactSet expected $1.11.

Revenue for the quarter ended Sept. 30 was $237.8 million, up from $213.6 million a year earlier.

Analysts expected $230.1 million.

For Q4, the company expects non-GAAP EPS of approximately $1.50 on revenue of about $275 million. Analysts expect $1.22 and $239.3 million, respectively.

Price: 86.43, Change: -5.46, Percent Change: -5.95

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