Maxim Integrated Products Earnings: Here’s Why Shares are Down Now
Maxim Integrated Products Inc. (NASDAQ:MXIM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.79%.
Maxim Integrated Products Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 36.36% to $0.45 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 5.9% to $604.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Maxim Integrated Products Inc. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $595.83 million.
Quoting Management: Tunc Doluca, President and Chief Executive Officer, commented, “While Maxim’s Mobility business has driven our revenue growth for several quarters, it is good to see strength in orders for our Industrial business. Our diverse business model has positioned Maxim to participate in growth across multiple end markets.”
Key Stats (on next page)…