Synaptics Inc.’s SYNA stock surged 14% in extended trading Thursday after the semiconductor company reported quarterly results that topped analyst revenue and earnings estimates. Synaptics reported a fiscal first-quarter net loss of $55.6 million, or $1.43 a share, compared with net income of $64.6 million, or $1.62 a share, in the year-ago quarter. Adjusted earnings were 52 cents a share. Net revenue was $237.7 million, compared with $448.1 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 37 cents a share on revenue of $230 million. Shares of Synaptics have slipped 7% this year, while the broader S&P 500 index SPX has increased 13%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
