Silicon Labs: Q2 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Wednesday reported second-quarter earnings of $11 million.

The Austin, Texas-based company said it had net income of 33 cents per share. Earnings, adjusted for stock option expense and amortization costs, were $1.04 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The chipmaker posted revenue of $244.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $243.3 million.

For the current quarter ending in September, Silicon Labs expects its per-share earnings to range from 45 cents to 73 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.05.

The company said it expects revenue in the range of $190 million to $210 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $276.2 million.

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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 SLAB at https://www.zacks.com/ap/SLAB