WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Monolithic Power Systems Inc. (MPWR) on Thursday reported second-quarter net income of $257.3 million.
On a per-share basis, the West Palm Beach, Florida-based company said it had net income of $5.22. Earnings, adjusted for stock option expense and pretax expenses, were $6.50 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.88 per share.
The chipmaker posted revenue of $980.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $904 million.
For the current quarter ending in September, Monolithic said it expects revenue in the range of $1.14 billion to $1.16 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MPWR at https://www.zacks.com/ap/MPWR
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