Shares of MaxLinear dropped in after-hours trading on Wednesday after the company predicted another decrease in revenue for the first quarter. The stock was down 12% to $18.32, following a 3.2% drop at Wednesday's close. Despite this, shares have seen a surge of 37% in the last three months.

The integrated circuits provider, based in Carlsbad, Calif., announced after the market closed that revenue had fallen 57% from a year ago to $125.4 million in the fourth quarter. While this was slightly higher than the $125.2 million forecasted by analysts, it still represents a significant downward trend.

Looking ahead, MaxLinear expects revenue to reach between $85 million and $105 million in the first quarter, a decrease from the $248.4 million reported in the same period last year. Analysts polled by FactSet, however, are more optimistic, predicting revenue at $121.8 million.

In terms of financial performance, MaxLinear reported a loss of $38.5 million, or 47 cents per share, for the quarter ended December 31. This is a major shift from the profit of $31.1 million, or 38 cents per share, recorded a year earlier. Despite missing expectations, the loss per share was slightly smaller than the 51 cents predicted by analysts.

While the industry continues to closely monitor MaxLinear’s performance, it remains to be seen how the company will navigate these challenges in the coming months.

OneDigital Investment Advisors Acquires WealthSource Partners

Inflation in the Eurozone Falls in January

Leave A Reply

Your email address will not be published. Required fields are marked *