AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Wednesday reported a loss of $56.5 million in its first quarter.
The Austin, Texas-based company said it had a loss of $1.77 per share. Losses, adjusted for stock option expense and pretax expenses, were 92 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 98 cents per share.
The chipmaker posted revenue of $106.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $104.4 million.