AXT: 2Q Earnings Snapshot

FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Wednesday reported second-quarter profit of $3.9 million.

The Fremont, California-based company said it had profit of 10 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The semiconductor materials supplier posted revenue of $27.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $26.1 million.

AXT shares have dropped 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.90, a rise of 7.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI