Silicon Motion: Q2 Earnings Snapshot
HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Thursday reported second-quarter profit of $11 million.
The Hong Kong-based company said it had net income of 33 cents per share. Earnings, adjusted for one-time gains and costs, were 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The chip company posted revenue of $140.4 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $134.9 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 SIMO at https://www.zacks.com/ap/SIMO
