HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Wednesday reported second-quarter earnings of $16.3 million.
The Hong Kong-based company said it had net income of 49 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 69 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The chip company posted revenue of $198.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $180.4 million.
For the current quarter ending in September, Silicon Motion said it expects revenue in the range of $219 million to $228 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 SIMO at https://www.zacks.com/ap/SIMO
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