Synaptics tops Street 2Q forecasts
Synaptics posts 2Q profit, results top Wall Street estimates
SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal second-quarter net income of $22.8 million.
The San Jose, California-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.49 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The maker of touch-screen technology posted revenue of $461.3 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $450.9 million.
Synaptics shares have increased 8.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $58.14, a fall of 17 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYNA at https://www.zacks.com/ap/SYNA
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Keywords: Synaptics, Earnings Report
