Hua Hong Semiconductor Ltd. (HK:1347) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Hua Hong Semiconductor Ltd. reported a rise in revenue to $478.5 million in Q2 2024, with a gross margin of 10.5% and net profit of $6.7 million, signaling a slow recovery in the semiconductor market. The company anticipates further growth, projecting Q3 revenues between $500 million to $520 million with improved gross margins. With a second production line on the horizon, Hua Hong Semiconductor is poised to expand capacity and enhance its technological offerings.
For further insights into HK:1347 stock, check out TipRanks’ Stock Analysis page.