🟢 GCT Semiconductor is trading 5.9% up in pre-market after Q2 earnings miss

GCT Semiconductor is trading at $2.16, up 5.9% in pre-market as shares rebound after the August 10 Q2 earnings release triggered a sharp selloff.

• Revenue reached only $970,000, versus $4.17 million consensus; adjusted loss was $0.25 per share, versus $0.10 expected.
• More than 5,100 5G chipsets shipped, up 71% sequentially; management expects second-half shipments to exceed first-half levels.
• The immediate catalyst for the rebound is unclear, but earnings remain the key company-specific driver.