Silicon Labs: 2Q Earnings Snapshot
AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported a loss of $1.8 million in its second quarter.
On a per-share basis, the Austin, Texas-based company said it had a loss of 4 cents. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The chipmaker posted revenue of $207.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $200.1 million.
For the current quarter ending in October, Silicon Labs expects its per-share earnings to range from 67 cents to 77 cents.
The company said it expects revenue in the range of $208 million to $218 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $206 million.
Silicon Labs shares have dropped 12% since the beginning of the year. The stock has fallen 11% 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 SLAB at https://www.zacks.com/ap/SLAB
