Silicon Motion Technology Q2 Adj EPS $0.38 Misses $0.48 Estimate, Sales $140.36M Beat $133.23M Estimate
Portfolio Pulse from vinayak@benzinga.com
Silicon Motion Technology (NASDAQ:SIMO) reported Q2 earnings of $0.38 per share, missing the analyst consensus estimate of $0.48 by 20.83%. This is a 79.79% decrease from the same period last year. However, the company's quarterly sales of $140.36 million beat the analyst consensus estimate of $133.23 million by 5.35%, despite a 44.38% decrease from the same period last year.
July 27, 2023 | 10:05 pm
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NEGATIVE IMPACT
Silicon Motion Technology's Q2 earnings missed estimates but sales beat expectations.
The company's earnings miss could negatively impact the stock price in the short term. However, the sales beat might mitigate some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100