In a filing, the company stated that it may suspend or abandon its foundry operations entirely if it fails to secure a significant client for its next-generation chips.
The YoY revenue drop, the biggest since the third quarter of 2012, came about due to declines in EV deliveries and the average selling price, as well as lower regulatory credit.
The earnings per share increased to $2.31 from $1.89 a year ago, with the top line reaching $96.43 billion, exceeding the Fiscal.ai-compiled consensus of $2.2 and $94.02 billion.
CEO Haviv Ilan noted that the cyclical recovery is continuing, while customer inventories remain at low levels, and emphasized that in times like these, it is crucial to have sufficient capacity and inventory
AT&T’s Q2 revenue increased 3.5% year-over-year to $30.8 billion, beating the analysts' consensus estimate of $30.4 billion, according to Fiscal AI data.
Baird’s Tristan Gerra attributed the post-market weakness to investors' concerns about a change in the management tone on the call, combined with a sequentially flattish gross margin guidance.
