Enovix Stock Drops Desite Beating Q1 Estimates: Details
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Enovix Corp. (NASDAQ:ENVX) shares fell 11.39% to $6.46 after reporting Q1 earnings that included a loss of 14 cents per share, beating estimates of 16 cents. Revenue reached $7.6 million, surpassing the $6.95 million forecast. The company anticipates Q2 adjusted losses of 17 to 13 cents per share and revenue between $8 million and $9 million, below the $8.58 million estimate. CEO Dr. Raj Talluri emphasized a focus on smartphone qualifications and commercial production.
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