Investing.com - Silicon Motion (NASDAQ:SIMO) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Silicon Motion announced earnings per share of $1.88 on revenue of $252.4M. Analysts polled by Investing.com anticipated EPS of $1.75 on revenue of $265.62M.
Silicon Motion shares are down 9.54% from the beginning of the year, still down 12.86% from its 52 week high of $98.65 set on May 5. They are outperforming the Nasdaq which is down 23.09% from the start of the year.
Silicon Motion follows other major Information Technology sector earnings this month
Silicon Motion's report follows an earnings missed by Microsoft on Tuesday, who reported EPS of $2.23 on revenue of $51.87B, compared to forecasts EPS of $2.29 on revenue of $52.43B.
Visa A had beat expectations on Tuesday with third quarter EPS of $1.98 on revenue of $7.28B, compared to forecast for EPS of $1.74 on revenue of $7.06B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar