Synaptics Earnings: Here’s Why Investors are Buying Shares Now
Synaptics Inc. (NASDAQ:SYNA) 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 18.11%.
Synaptics Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 54.9% to $0.79 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 24% to $163.32 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Synaptics Inc. reported adjusted EPS income of $0.79 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $145.79 million.
Quoting Management: “We are extremely pleased to report record revenue during the third quarter,” stated Rick Bergman, President and CEO. “The continued adoption of our solutions by a broad base of key customers is a testament to the strength of our technology leadership and has enabled us to diversify our business through increased penetration of the rapidly growing mobile touchscreen market. As the market leader in capacitive touch solutions, we believe Synaptics is well-positioned to drive long-term, profitable growth.”
Key Stats (on next page)…