PXLW - Why Is Pixelworks Stock Diving Premarket Wednesday? | Benzinga
Pixelworks, Inc. (NASDAQ:PXLW) shares are trading lower after the company’s soft second-quarter guidance.
Revenue for the first quarter increased 61% Y/Y to $16.05 million, marginally beating the consensus of $16.00 million, driven by strong growth in mobile revenue.
Mobile revenue grew almost 3x Y/Y to $9.8 million, reflecting increased shipments of X-series visual processors for smartphones and an expanded number of TrueCut Motion engagements.
Adjusted gross profit margin stood at 50.7%, up from 44.1% a year ago quarter, reflecting a revenue mix comprised of ...