tiprankstipranks
Trending News
More News >

Hua Hong Semiconductor Reports Strong Q3 Profit Growth

Hua Hong Semiconductor Reports Strong Q3 Profit Growth

Hua Hong Semiconductor Ltd. (HK:1347) has released an update.

Confident Investing Starts Here:

Hua Hong Semiconductor Ltd. reported a significant increase in net profit for Q3 2024, with a notable 222.6% rise compared to the same period last year, despite a 7.4% drop in revenue. The company credits its diversified product structure and operational efficiency for its resilience amid a complex market environment, while also progressing with the construction of a new production line in Wuxi to boost future growth. Looking ahead, Hua Hong anticipates revenues to reach up to $540 million in the fourth quarter.

For further insights into HK:1347 stock, check out TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App