Magnachip Semiconductor Second Quarter 2024 Earnings: Beats Expectations

Magnachip Semiconductor (NYSE:MX) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$53.2m (down 13% from 2Q 2023).
• Net loss: US$13.0m (loss widened by 229% from 2Q 2023).
• US$0.34 loss per share (further deteriorated from US$0.095 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Magnachip Semiconductor Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Semiconductor industry in the US.

Performance of the American Semiconductor industry.

The company's shares are up 11% from a week ago.

Risk Analysis

Be aware that Magnachip Semiconductor is showing 1 warning sign in our investment analysis that you should know about...

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