Silicon Labs Sales Dip In Q4 But Eyes Turnaround in Q1, Stock Soars
Portfolio Pulse from Anusuya Lahiri
Silicon Laboratories Inc (NASDAQ:SLAB) reported a Q4 FY23 sales decrease of 66.3% Y/Y to $86.85 million, surpassing consensus estimates. Despite a significant drop in sales and margins, the company's adjusted EPS loss was better than expected. SLAB anticipates a return to sequential revenue growth in Q1 with an expected revenue of $100 million to $110 million, also above consensus estimates. The stock soared by 12.70% following the announcement.
February 07, 2024 | 4:57 pm
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Silicon Labs reported a smaller than expected Q4 loss and anticipates Q1 revenue growth, leading to a 12.70% stock price increase.
SLAB's better than expected Q4 earnings and optimistic Q1 revenue forecast likely contributed to the stock's significant price increase. The company's ability to surpass consensus estimates despite a challenging market environment and its positive outlook for the near future are key factors driving investor optimism.
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