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Magnachip reports Q3 adjusted EPS (34c), consensus (19c)
The Fly

Magnachip reports Q3 adjusted EPS (34c), consensus (19c)

Reports Q3 revenue $66.5M, consensus $64.05M. YJ Kim, Magnachip’s (MX) CEO, commented, “Our Q3 revenue was at the high-end of guidance driven by broad-based growth in our Standard Product businesses, which is comprised of our MSS and PAS businesses. Standard Product revenue increased 25.9% sequentially and 24% year-over-year. Our discrete Power business benefited from leaner inventory in distribution channels as well as new product designs wins resulting in better-than-seasonal growth. In MSS, the strong sequential growth was due to increased demand for products targeted for China smartphone OEMs, automotive displays, and OLED IT.”

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