FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $2.1 million in its first quarter.
On a per-share basis, the Fremont, California-based company said it had a loss of 5 cents. Losses, adjusted for stock option expense, came to 3 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The semiconductor materials supplier posted revenue of $22.7 million in the period.
In the final minutes of trading on Thursday, the company’s shares hit $3.03. A year ago, they were trading at $2.67.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
