Allegro Microsystems Q4 Adj $0.25 Beats $0.21 Estimate, Sales $240.58M Beat $234.93M Estimate
Portfolio Pulse from Benzinga Newsdesk
Allegro Microsystems (NASDAQ:ALGM) reported Q4 earnings of $0.25 per share, surpassing the $0.21 estimate, and sales of $240.58M, exceeding the $234.93M estimate. However, this reflects a 32.43% decrease in earnings and a 10.71% decrease in sales from the same period last year.
May 09, 2024 | 11:03 am
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Allegro Microsystems reported higher-than-expected Q4 earnings and sales, but with significant year-on-year declines.
Beating both earnings and sales estimates typically has a positive short-term impact on a company's stock price. However, the significant year-on-year declines in both earnings and sales might temper investor enthusiasm, suggesting a cautious optimism.
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