Silicon Motion Technology Q3 2023 Adj EPS $0.63 Beats $0.61 Estimate, Sales $172.33M Beat $165.70M Estimate
Portfolio Pulse from totan@benzinga.com
Silicon Motion Technology (NASDAQ:SIMO) reported Q3 2023 earnings of $0.63 per share, beating the analyst consensus estimate of $0.61 by 3.28%. However, this is a 58.82% decrease from the same period last year. The company also reported quarterly sales of $172.33 million, beating the analyst consensus estimate of $165.70 million by 4.00%, but this is a 31.29% decrease from the same period last year.
November 01, 2023 | 10:01 pm
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Silicon Motion Technology beat Q3 2023 earnings and sales estimates, but reported significant decreases from the same period last year.
While Silicon Motion Technology beat the earnings and sales estimates, the significant decrease from the same period last year could potentially offset the positive impact of beating estimates. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100