Silicon Motion: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 06:45 PM ET
Last Updated - Jun 21, 2023, 10:35 PM EDT
HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Thursday reported first-quarter net income of $10.2 million.
On a per-share basis, the Hong Kong-based company said it had profit of 30 cents. Earnings, adjusted for one-time gains and costs, were 33 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The chip company posted revenue of $124.1 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $161.2 million.
