U.S. Markets closed

MaxLinear reports 3Q loss

CARLSBAD, Calif. (AP) _ MaxLinear Inc. (MXL) on Tuesday reported a third-quarter loss of $9.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Carlsbad, California-based company said it had a loss of 14 cents. Earnings, adjusted for amortization costs and stock option expense, were 39 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The chipmaker posted revenue of $113.6 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $115.6 million.

MaxLinear shares have risen nearly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.73, a rise of 25 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MXL at https://www.zacks.com/ap/MXL