Why Material Science Company AXT Shares Are Shooting Up Premarket Today



AXT, Inc. (NASDAQ:AXTI) shares are trading higher after the company reported better-than-expected Q4 financial results yesterday.

Revenue of $20.4 million beat the consensus of $17.6 million. Revenue was $17.4 million in the third quarter of 2023 and $26.8 million in the last quarter of 2022.

Adjusted operating expenses declined to $7.5 million from $9.0 million the prior year. The company reported an adjusted operating loss of $(2.7) million, which widened from $(0.3) a prior year quarter.

The company …

Full story available on Benzinga.com


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