Synaptics' stock is surging after earnings, revenue beats
Synaptics Inc.'s (SYNA) stock surged 14% in extended trading Thursday after the semiconductor company reported quarterly results that topped analyst revenue and earnings estimates. Synaptics reported a fiscal first-quarter net loss of $55.6 million, or $1.43 a share, compared with net income of $64.6 million, or $1.62 a share, in the year-ago quarter. Adjusted earnings were 52 cents a share. Net revenue was $237.7 million, compared with $448.1 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 37 cents a share on revenue of $230 million. Shares of Synaptics have slipped 7% this year, while the broader S&P 500 index has increased 13%.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-09-23 1620ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits
-
Novo Nordisk Earnings: Raised Fair Value Estimate Still a Contrast to Market Overenthusiasm
-
After Earnings, Is Verizon Stock a Buy, a Sell, or Fairly Valued?
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month