Tower Semiconductor Clocks 21 Percent Revenue Growth in Q1, Suspends Guidance Due to Intel Takeover

A logo of the Israeli manufacturer of semiconductors and integrated circuits Tower Semiconductor at its headquarter in San Antonio, Texas, in December 2021. Google Maps/Screenshot via The Epoch Times

Tower Semiconductor Ltd reported first-quarter FY22 revenue growth of 21 percent year-on-year to $421 million, beating the consensus of $406.9 million. It posted a 29 percent organic growth.

The gross profit was $105 million, up 50 percent Y/Y.