ACM Research Surpasses Earnings Expectations with ACMR Stock
ACM Research, a semiconductor equipment supplier, exceeded Wall Street's earnings expectations for the third quarter but provided a lower sales outlook, causing its stock to fall. The company reported adjusted earnings of 57 cents per share on sales of $168.6 million, beating analysts' estimates. However, ACM Research's revenue guidance for the full year was narrowed to a range of $520 million to $540 million, down from the previous range of $515 million to $585 million. The stock fell 3.5% in morning trades.