2023-07-28 04:10:21 ET
- Silicon Motion Technology press release ( NASDAQ: SIMO ): Q2 Non-GAAP EPADS of $0.38 misses by $0.10 .
- Revenue of $140.4M (-44.4% Y/Y) beats by $11.77M .
- SSD controller sales: 2Q increased 5% to 10% Q/Q and decreased 30% to 35% Y/Y.
- eMMC+UFS controller sales: 2Q increased 45% to 50% Q/Q and decreased 65% to 70% Y/Y.
- SSD solutions sales: 2Q decreased 5% to 10% Q/Q and decreased 25% to 30% Y/Y.
- Outlook: "We expect that our third quarter 2023 sales will grow 15% to 20% Q/Q vs. estimated decline of -41.47% Y/Y, and our third quarter 2023 gross margin will be similar or slightly improved Q/Q. We believe that we are well positioned to drive long-term growth of our business and increase our profitability levels."
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Silicon Motion Technology reports mixed Q2 earnings; initiates Q323 outlook