National Semiconductor Earnings: Here’s Why the Stock is Up Now
National Semiconductor Corporation (NYSE:NSM) 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 up 2.87%.
National Semiconductor Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 316.67% to $1.5 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 179.88% to $603.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: National Semiconductor Corporation reported adjusted EPS income of $1.5 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $369.92 million.
Quoting Management: “We generated strong sequential earnings across our entire platform in the second quarter,” said Jay Bray, Chief Executive Officer of Nationstar. “We successfully boarded the BofA GSE and Ginnie Mae portfolios, completed the acquisition of Greenlight, and continue to make progress on building Solutionstar into a high-margin, fee-based business. Our platforms are strategically positioned to perform in an improving economy, and we continue to see compelling opportunities in the marketplace that will deliver long-term value to our shareholders.”
Key Stats (on next page)…