An announcement from Diodes ( (DIOD) ) is now available.
Diodes Incorporated reported a third-quarter 2024 revenue of $350.1 million, exceeding expectations with a 9.5% sequential growth, driven by a strong 10% increase in global POS in Asia. Despite GAAP net income decreasing to $13.7 million from $48.7 million the previous year, the company highlighted a strategic focus on the automotive market, which saw an 18% revenue rise. With plans to moderate capital expenditures and focus on cost reduction, Diodes anticipates a robust performance in upcoming quarters, particularly in higher-margin sectors like automotive and industrial.
See more insights into DIOD stock on TipRanks’ Stock Analysis page.
