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Mellanox: 2Q Earnings Snapshot

July 24, 2019

YOKNEAM, Israel (AP) _ Mellanox Technologies Ltd. (MLNX) on Wednesday reported second-quarter net income of $38.4 million.

On a per-share basis, the Yokneam, Israel-based company said it had profit of 68 cents. Earnings, adjusted for stock option expense and amortization costs, were $1.52 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.

The semiconductor company posted revenue of $310.3 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $307.2 million.

Mellanox shares have increased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $114.20, an increase of 39% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLNX at https://www.zacks.com/ap/MLNX

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