FormFactor Raises Third-Quarter Guidance, Tops Second-Quarter Profit on High-Bandwidth Memory Demand

FormFactor reported second-quarter revenue of $258.2 million, beating analyst estimates of $240.6 million, as testing demand for high-bandwidth memory and co-packaged optics drove growth. The company posted an adjusted earnings per share of 82 cents, surpassing the $0.61 consensus, and guided for third-quarter revenue between $260 million and $280 million, alongside earnings per share of $0.77 to $0.95.

The results, driven by the Probe Cards and Systems segments, lifted the company's adjusted gross margin to 53.3 percent from 38.5 percent a year earlier. Co-packaged optics was identified as a demand driver in a recent earnings release by a test equipment vendor, marking the first top-line confirmation of the sector's impact on sales. Shares rose in after-hours trading following the report, reversing a late-week decline.