Investing.com - Silicon Motion reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Silicon Motion announced earnings per share of $1.54 on revenue of $231.5M. Analysts polled by Investing.com anticipated EPS of $1.51 on revenue of $237.49M.
Silicon Motion shares are down 14.55% from the beginning of the year and are trading at $81.20 , down-from-52-week-high.They are outperforming the Nasdaq which is down 17.13% from the start of the year.
Silicon Motion follows other major Information Technology sector earnings this month
Silicon Motion's report follows an earnings beat by Apple on Thursday, April 28, 2022, who reported EPS of $1.52 on revenue of $97.28B, compared to forecasts EPS of $1.42 on revenue of $94.03B.
Microsoft had beat expectations on Tuesday, April 26, 2022 with third quarter EPS of $2.22 on revenue of $49.36B, compared to forecast for EPS of $2.19 on revenue of $49.02B.
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