Monolithic's stock slips as outlook overshadows earnings beat

Monolithic Power Systems Inc. (MPWR) shares fell in the extended session Monday after the computer power system maker's in-line forecast took away from its earnings beat. Monolithic shares fell more than 4% after hours, following a 2.6% rise in the regular session to close at $559.49. The company reported second-quarter net income of $99.5 million, or $2.04 a share, compared with $114.7 million, or $2.37 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $2.82 a share, compared with $3.25 a share in the year-ago period. Revenue declined to $441.1 million from $461 million in the year-ago quarter. Analysts surveyed by FactSet had forecast $2.80 a share on revenue of $440.4 million. Monolithic forecast third-quarter revenue of $464 million to $484 million, while analysts had estimated $473.4 million.

-Wallace Witkowski

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07-31-23 1641ET

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