Monolithic Power Systems Q3 Adjusted Earnings, Revenue Rise; Appoints New CFO
MT Newswires Live10-30
Monolithic Power Systems (MPWR) reported Q3 adjusted earnings late Thursday of $8.19 per diluted share, up from $4.73 a year earlier.
Analysts polled by FactSet expected $7.79.
Revenue for the quarter ended Sept. 30 was $1.20 billion, up from $737.2 million a year earlier.
Analysts expected $1.16 billion.
The company expects Q4 revenue of $1.32 billion to $1.39 billion. Analysts expect $1.22 billion.
The company said its board authorized in October an additional $500 million for stock repurchases, bringing total authorization to $1 billion after repurchases made in Q3.
The company also named Tony Balow as chief financial officer and Robert Dean as chief accounting officer, starting immediately.
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