Silicon Labs Q2 revenue rises on segment growth; co suspends guidance on pending acquisition
SLAB•Growth drivers
- Industrial & Commercial revenue rose 23% year over year.
- Home & Life revenue rose 12% year over year.
- Medical achieved record revenue in the quarter, up 78% year over year.
- Bookings and new orders accelerated, while inventory at both distributors and end customers declined, the company said.
Key quarterly figures
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Beat* | $228.19 mln | $227.97 mln (5 Analysts) |
| Q2 Net Loss | Miss | $10.59 mln | $22.86 mln (5 Analysts) |
| Q2 Operating Loss | Miss | $10.67 mln | $24.66 mln (4 Analysts) |
| Q2 Gross Profit | $140.67 mln | ||
| Q2 Operating Expenses | $151.34 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Q2 results and guidance
US wireless IoT chipmaker Silicon Labs said second-quarter revenue rose 18% year over year, slightly beating analyst expectations.
Non-GAAP diluted EPS for the quarter rose sharply, while GAAP net income missed analyst estimates.
