Tower's Q1 2026 operating profit surges 96%, secures $1.3 billion silicon photonics contract
Analog Chip foundry Tower Semiconductor announced its Q1 2026 financial results on the 13th local time, and revealed that it has secured a $1.3 billion silicon photonics (SiPho) manufacturing contract from its largest customer.
In Q1 2026, Tower achieved $414 million in operating revenue, a year-on-year increase of 15%; gross profit was $111 million, up 52% year-on-year; operating profit reached $65 million, up 96% year-on-year; net profit was $65 million, with basic EPS of $0.58 and diluted EPS of $0.57.
The company expects Q2 2026 revenue to hit a new record high at $455 million, representing a 22% year-on-year increase and a 10% quarter-on-quarter rise.
Tower received a $290 million advance payment from the aforementioned silicon photonics contract, and the two companies intend to expand their collaboration further by 2028.
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