Inphi: 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Inphi Corp. (IPHI) on Thursday reported a loss of $20.6 million in its second quarter.
The Santa Clara, California-based company said it had a loss of 46 cents per share. Earnings, adjusted for one-time gains and costs, were 35 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The chip designer posted revenue of $86.3 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $83.7 million.
For the current quarter ending in October, Inphi expects its per-share earnings to range from 32 cents to 42 cents.
The company said it expects revenue in the range of $88 million to $92 million for the fiscal third quarter.
Inphi shares have risen 87% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $60.24, a climb of 94% in the last 12 months.