Semtech (SMTC) Earnings & Revenues Beat Estimates In Q3
Zacks Investment Research | Dec 05, 2019 06:38AM ET
Semtech Corporation’s (NASDAQ:SMTC) fiscal third-quarter 2020 non-GAAP earnings of 41 cents per share surpassed the Zacks Consensus Estimate by a couple of cents. The reported earnings increased 7.9% sequentially but decreased 34.9% year over year.
Non-GAAP revenues of $141.01 million increased 2.8% sequentially but decreased 18.7% from the prior-year quarter. The sequential increase was driven by growth in IoT and hyper scale data center markets.
Revenues surpassed the Zacks Consensus Estimate by 0.8% and came within the guided range of $135-$145 million.
Its key growth drivers are product differentiation, operational flexibility, and specific focus on fast-growing segments and regions.
Let’s delve into the numbers in detail:
Semtech Corporation Price, Consensus and EPS Surprise
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