- Silicon Laboratories ( NASDAQ: SLAB ) is up 4% on Tuesday after reporting earnings beat in third quarter results.
- The Texas-based semiconductor company reported 46% year-over-year increase in Q3 2022 revenue to $269.82M, almost in line with consensus.
- By Segment: Industrial & Commercial revenue, $146M (+56% Y/Y); Home & Life revenue, $124M (+36% Y/Y).
- Gross margin of 61%, reflecting positive trends due to product mix in the quarter.
- GAAP EPS of $0.60; Non-GAAP EPS of $1.21 beats by $0.12.
- Q4 2022 Guidance: rep Revenue is forecasted to be between $245 to $255M vs. consensus of $271.90M .
- Gross margin to be 60%;
- GAAP operating expenses of approximately $132M.
- GAAP EPS between $0.35 to $0.45 and Non-GAAP EPS for the quarter between $0.93 to $1.03 vs. consensus of $1.01 .
- "We remain confident in our ability to lead and scale in the IoT market despite an increasingly challenging macroeconomic environment," commented Matt Johnson, President and Chief Executive Officer at Silicon Labs.
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Silicon Laboratories gains after earnings beat overshadows soft guidance