Synaptics Q2 2024 Adj EPS $0.57 Beats $0.45 Estimate, Sales $237.00M Beat $235.24M Estimate
Portfolio Pulse from Benzinga Newsdesk
Synaptics (NASDAQ:SYNA) reported Q2 2024 adjusted EPS of $0.57, surpassing the $0.45 estimate, with sales of $237.00M also beating the $235.24M estimate. However, this represents a 32.88% decrease in sales compared to the same period last year.
February 08, 2024 | 9:12 pm
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POSITIVE IMPACT
Synaptics reported a strong Q2 2024 performance with adjusted EPS and sales beating estimates, but experienced a significant year-over-year sales decline.
The positive earnings and sales beat are likely to have a favorable short-term impact on Synaptics' stock price, as beating analyst estimates typically boosts investor confidence. However, the significant year-over-year decline in sales might temper some of the enthusiasm, suggesting a mixed but overall positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100