Silicon Laboratories Stock Plunges On Lower Q2 Earnings: The Details
Portfolio Pulse from Vandana Singh
Silicon Laboratories Inc (NASDAQ:SLAB) reported Q2 FY23 sales of $245 million, down 6.95% Y/Y, beating the consensus of $242.94 million. The company's non-GAAP gross margin and adjusted operating margin fell from the previous year. Adjusted EPS of $1.04 beat the consensus of $1.03 but was lower than $1.17 a year ago. The company's outlook for Q2 FY23 revenue is $190 million - $210 million, lower than the consensus of $256.16 million. SLAB shares are down 10.60% at $141.85 during the premarket session.
July 26, 2023 | 1:03 pm
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Silicon Laboratories reported lower Q2 FY23 sales and a decline in margins. The company's outlook for Q2 FY23 revenue is lower than the consensus. SLAB shares are down 10.60% in premarket.
Silicon Laboratories reported lower sales and margins for Q2 FY23, which is a negative signal for investors. The company's outlook for Q2 FY23 revenue is also lower than the consensus, indicating potential future challenges. This news has already impacted the stock price, with SLAB shares down 10.60% in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100