MagnaChip Semiconductor Q2 EPS $(0.06) Beats $(0.23) Estimate, Sales $60.98M Beat $60.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
MagnaChip Semiconductor (NYSE:MX) reported Q2 earnings per share of $(0.06), beating the analyst consensus estimate of $(0.23) by 73.91%. However, this is a 126.09% decrease from the same period last year. The company also reported quarterly sales of $60.98 million, beating the estimate of $60.50 million by 0.79%, but this is a 39.85% decrease from last year.
August 07, 2023 | 8:34 pm
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MagnaChip Semiconductor's Q2 results beat estimates but showed significant YoY decreases.
While MagnaChip beat estimates for Q2, the significant year-over-year decreases in both earnings per share and sales could negatively impact investor sentiment and the stock price in the short term.
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