Silicon Motion Announces Preliminary Q2 2024 Revenue Above The High-end Of Its Original Guidance Range Of $199M-$208M Vs $203.88M Est
Portfolio Pulse from Benzinga Newsdesk
Silicon Motion Technology Corporation (NASDAQ: SIMO) announced that its preliminary Q2 2024 revenue is expected to exceed the high-end of its original guidance range of $199M-$208M, surpassing the $203.88M estimate. The gross margin (non-GAAP) is also expected to be near the high-end of the 45.0%-46.0% guidance range.
July 08, 2024 | 12:13 pm
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Silicon Motion Technology Corporation (NASDAQ: SIMO) announced that its preliminary Q2 2024 revenue is expected to exceed the high-end of its original guidance range of $199M-$208M, surpassing the $203.88M estimate. The gross margin (non-GAAP) is also expected to be near the high-end of the 45.0%-46.0% guidance range.
The announcement of preliminary Q2 2024 revenue exceeding the high-end of the original guidance range and surpassing the $203.88M estimate is a positive indicator for Silicon Motion's financial performance. Additionally, the gross margin being near the high-end of the guidance range further supports a positive outlook. This news is likely to have a positive short-term impact on SIMO's stock price.
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