indie Semiconductor Guides Q2 2024 Revenue To Be Flat To Up 5% Sequentially
Portfolio Pulse from Benzinga Newsdesk
indie Semiconductor projects its Q2 2024 revenue to range from flat to a 5% increase sequentially, aiming to counteract market softness due to ongoing industry-wide inventory rebalancing. CFO Thomas Schiller also anticipates gross margin expansion to 51-52% and a narrower operating loss, attributed to a richer product mix and flat expenses.
May 09, 2024 | 9:19 pm
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indie Semiconductor expects Q2 2024 revenue to be flat to up 5% sequentially, with gross margin expansion to 51-52% and a narrower operating loss.
The positive revenue guidance and anticipated improvement in gross margins and operating loss for Q2 2024 suggest a bullish outlook for indie Semiconductor. This is likely to be viewed positively by investors, potentially leading to a short-term uptick in INDI's stock price.
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