Silicon Labs: Q2 Earnings Snapshot

July 27, 2022 GMT

AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported second-quarter profit of $22.1 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 60 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.17 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The chipmaker posted revenue of $263.2 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $250.2 million.

For the current quarter ending in October, Silicon Labs expects its per-share earnings to range from $1.08 to $1.18.

The company said it expects revenue in the range of $265 million to $275 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $262.8 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLAB at https://www.zacks.com/ap/SLAB