09:32 AM EDT, 05/08/2024 (MT Newswires) -- ACM Research ( ACMR ) reported Q1 non-GAAP net income Wednesday of $0.52 per diluted share, up from $0.15 a year earlier.

Four analysts polled by Capital IQ expected $0.33.

Revenue for the quarter ended March 31 was $152.2 million, up from $74.3 million a year earlier.

Three analysts surveyed by Capital IQ expected $151.7 million.

For 2024, the company said it continues to expect revenue in the range of $650 million to $725 million. Analysts polled by Capital IQ expect $699.4 million.

Shares of the company were up 3.5% in early trading Wednesday.

Price: 28.28, Change: +0.95, Percent Change: +3.48