Silicon Labs Increases Guidance for Revenues and EPS

Headline Alert – Silicon Labs Increases Guidance

Top 5, Top 10, and Institutional Portfolio holding Silicon Laboratories guides Q3 revenues to $123M to 126M vs. prior guidance of $114 to $119M and Reuters $116.5M

From StreetAccount: The company guides Q3 Earnings Per Share to $0.60 to 0.62 vs. prior $0.48-0.53 and Reuters $0.49. The revenue increase is due to better than expected demand for both broadcast audio and MCU products. The strength in the broadcast audio business is resulting from better than seasonal demand in handsets at the company’s largest customer, which is expected to moderate in Q4, as well as a faster than expected ramp at a new consumer audio customer. The company also anticipates further improvement in gross margin in Q3, and therefore, is now projecting it will exceed internal operating performance.

 

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