EarningsEPS at the midpoint of the Q2 guidance, including stock-based compensation, was slightly below Street expectations.
Market ChallengesHeadwinds that impacted Q4 have not subsided and are likely to create challenges throughout 2024, including softening demand and inventory rebalancing in the Industrials and Medical markets, as well as continued weakness in Computing and Telecom.
RevenueQ1 revenue declined 3% year-over-year, primarily driven by softness in the Medical, Industrials, and Communications segments.