SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — SiTime Corporation (SITM) on Wednesday reported a loss of $28.7 million in its first quarter.
The Santa Clara, California-based company said it had a loss of $1.26 per share. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The company posted revenue of $33 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $32 million.
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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 SITM at https://www.zacks.com/ap/SITM
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