MagnaChip Semiconductor Q2 2024 Adj. EPS $(0.21) Beats $(0.33) Estimate, Sales $53.171M Beat $51.467M Estimate
Portfolio Pulse from Benzinga Newsdesk
MagnaChip Semiconductor (NYSE:MX) reported Q2 2024 adjusted EPS of $(0.21), beating the $(0.33) estimate, and sales of $53.171M, beating the $51.467M estimate. Despite beating estimates, both EPS and sales decreased compared to the same period last year.
July 31, 2024 | 8:46 pm
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MagnaChip Semiconductor reported better-than-expected Q2 2024 results with an adjusted EPS of $(0.21) beating the $(0.33) estimate and sales of $53.171M beating the $51.467M estimate. However, both EPS and sales have decreased compared to the same period last year.
The better-than-expected earnings and sales figures are likely to have a positive short-term impact on the stock price. However, the year-over-year decline in both EPS and sales may temper some of the enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100