GCT Semiconductor is trading 5.4% down now at $2.02 after its August 10 second-quarter results showed a wider-than-expected loss and revenue miss.
- Adjusted loss was $0.25 per share versus expectations of $0.10, while revenue was $970,000 against a $4.17 million estimate.
- 5G chipset shipments increased approximately 71% sequentially, but the weak earnings reaction outweighed the improvement.
- Shares fell after the report; broad semiconductor strength is not supporting the stock, making the decline company-specific.