Axcelis (ACLS) Q1 Earnings and Revenues Surpass Estimates

Axcelis Technologies (ACLS) reported first-quarter 2024 non-GAAP earnings per share (EPS) of $1.57, which surpassed the Zacks Consensus Estimate of$1.26. The bottom line increased 9.8% year over year.Revenues in the quarter totaled $252.4 million, beating the Zacks Consensus Estimate by 4%. Healthy shipments to China, coupled with impetus in the implant-intensive power device segment, notably silicon carbide, are driving top-line growth. The company is also making strides in capturing new global customers ...