AXT, Inc. (AXTI) Tops Q4 EPS by 6c, Beats on Revenue

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Go back to AXT, Inc. (AXTI) Tops Q4 EPS by 6c, Beats on Revenue

AXT, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results

February 22, 2024 4:05 PM EST

FREMONT, Calif., Feb. 22, 2024 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today reported financial results for the fourth quarter and fiscal year, ended December 31, 2023.

Management Qualitative Comments

We believe we are now beginning to see a recovery in our markets, said Morris Young, chief executive officer. In Q4, we achieved 18 percent sequential growth in our revenues and a 43 percent sequential improvement in our non-GAAP net income. While the overall demand environment remains somewhat soft, we are seeing increased... More