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Power Integrations: Q2 Earnings Snapshot
By AP News - Aug 06, 2024, 04:41 PM ET
Last Updated - Aug 06, 2024, 04:41 PM EDT
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Tuesday reported second-quarter earnings of $4.8 million.
On a per-share basis, the San Jose, California-based company said it had profit of 9 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
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The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $106.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $105 million.
For the current quarter ending in September, Power Integrations said it expects revenue in the range of $110 million to $120 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 POWI at https://www.zacks.com/ap/POWI
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