Pixelworks Currently Expects Q2 Total Revenue Of $8M-$9M (Est $16.5M), Adj EPS Loss Of $(0.16)-$(0.13), Est $(0.07)
Portfolio Pulse from Benzinga Newsdesk
Pixelworks anticipates Q2 total revenue of $8M-$9M, significantly below the estimated $16.5M, with an adjusted EPS loss of $(0.16)-$(0.13), worse than the estimated $(0.07). The company attributes the shortfall to near-term headwinds in its mobile business but expects a return to sequential growth in H2. The anticipated non-GAAP gross profit margin is between 50% and 52%.
May 14, 2024 | 9:18 pm
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Pixelworks expects significantly lower Q2 revenue and a larger EPS loss than anticipated due to challenges in its mobile business, though it remains optimistic about H2 growth.
The significant shortfall in expected Q2 revenue and the larger than anticipated EPS loss directly impact investor sentiment and stock price in the short term. The company's optimism about H2 growth may mitigate some concerns, but the immediate financial figures are likely to weigh heavily on the stock.
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