Investing.com - Silicon Motion (NASDAQ:SIMO) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Silicon Motion announced earnings per share of $1.7 on revenue of $254.2M. Analysts polled by Investing.com anticipated EPS of $1.62 on revenue of $246.23M.
Silicon Motion shares are up 49.03% from the beginning of the year, still down 12.35% from its 52 week high of $81.87 set on August 5. They are outperforming the Nasdaq which is up 18.21% from the start of the year.
Silicon Motion follows other major Technology sector earnings this month
Silicon Motion's report follows an earnings beat by Alphabet C on Tuesday, who reported EPS of $27.99 on revenue of $65.12B, compared to forecasts EPS of $23.84 on revenue of $63.47B.
Facebook had beat expectations on Monday with third quarter EPS of $3.22 on revenue of $29.01B, compared to forecast for EPS of $3.19 on revenue of $29.58B.
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