Silicon Motion Technology Q1 2024 Adj EPS $0.64 Beats $0.57 Estimate, Sales $189.311M Beat $180.049M Estimate
Portfolio Pulse from Benzinga Newsdesk
Silicon Motion Technology (NASDAQ:SIMO) reported Q1 2024 adjusted EPS of $0.64, surpassing the $0.57 estimate, with sales of $189.311M also beating the $180.049M estimate. This represents a significant increase over the previous year's earnings and sales.
May 02, 2024 | 10:05 pm
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Silicon Motion Technology reported a strong Q1 2024 with adjusted EPS and sales exceeding estimates, indicating robust growth.
The substantial beat on both earnings per share and sales estimates, coupled with the impressive year-over-year growth, suggests a positive outlook for Silicon Motion Technology. This performance is likely to instill investor confidence and could lead to a short-term uptick in SIMO's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100