Valens Semiconductor rises on smaller-than-expected loss

Valens Semiconductor

10/05/2023 15:36

** Shares of fabless manufacturing co Valens Semiconductor
Ltd  VLN.N  up 8.8% at $2.72
    ** Israeli co reports adj loss of 3 cents per share vs.
estimated loss of 7 cents per share - Refinitiv 
    ** Q1 rev $23.9 mln vs. estimate of $23.7 mln
    ** Co sees Q2 rev in the range of $23.9 mln-$24.1 mln vs.
estimate of $23.8 mln
    ** Says FY23 outlook remains unchanged
    ** Facing heightened level of uncertainty amid inflation and
rising interest rates - co
    ** VLN down about 49.5% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))