Inphi: 2Q Earnings Snapshot
Posted Aug 4, 2020 07:35:00 AM.
Last Updated Aug 4, 2020 07:46:34 AM.
This article is more than 5 years old.
SANTA CLARA, Calif. (AP) _ Inphi Corp. (IPHI) on Tuesday reported a loss of $24.1 million in its second quarter.
The Santa Clara, California-based company said it had a loss of 49 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 95 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The chip designer posted revenue of $175.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $150.1 million.
For the current quarter ending in October, Inphi expects its per-share earnings to range from 83 cents to 87 cents.
The company said it expects revenue in the range of $179 million to $182.5 million for the fiscal third quarter.
Inphi shares have risen 83% since the beginning of the year. The stock has more than doubled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPHI at https://www.zacks.com/ap/IPHI
The Associated Press
