FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $1.9 million in its third quarter.
The Fremont, California-based company said it had a loss of 4 cents per share. Losses, adjusted for stock option expense, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The semiconductor materials supplier posted revenue of $28 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $20.7 million.
AXT shares have more than tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.32, more than doubling in the last 12 months.
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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
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