Enovix Stock Is Surging After The Bell: What's Going On?

Quick Summary:

Enovix Corp (NASDAQ:ENVX) shares are rising in Tuesday’s after-hours session after the company reported better-than-expected financial results for the third quarter and announced a development agreement with a leading smartphone company.Q3 Revenue: $4.32 million, versus estimates of $4.11 million Q3 EPS: Loss of 17 cents, versus estimates for a loss of 20 cents “We are very pleased with our accomplishments in the third quarter.

Fab2 is now operational and shipping samples to customers,” said Raj Talluri, president and CEO of Enovix.“We secured a 2025 launch commitment from a major smartphone ...

For the remaining months of 2024, the key objectives are completing SAT for the High-Volume Line and shipping EX-2M samples.

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Author / Journalist: Adam Eckert

Category: Technology

Markets: United StatesChina

Topics: Movers News After-Hours Center Benzinga Contracts ENVX Earnings Why it's moving Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 21:19:19 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 342 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23331915

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