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Jul 30, 2023
Semtech Q2 2024 Earnings Report
Reported second quarter of fiscal year 2024 results.
Key Takeaways
Semtech's net sales aligned with projections, and non-GAAP gross margin and earnings per share exceeded estimates due to focused cost-saving initiatives. Net sales were $238.4 million, an increase of 0.8% sequentially and 13.9% year-over-year. Non-GAAP diluted earnings per share was $0.11.
Net sales of $238.4 million, an increase of 0.8% sequentially and 13.9% year-over-year
GAAP gross margin of 42.3% and Non-GAAP gross margin of 49.6%
GAAP diluted loss per share of $5.97 and Non-GAAP diluted earnings per share of $0.11
Cloud data center net sales grew 114% sequentially and High-end consumer net sales grew 58% sequentially
Forward Guidance
Net sales are expected to be in the range of $190.0 million to $210.0 million. GAAP Gross margin is expected to be in the range of 41.5% to 44.0%. Non-GAAP Diluted loss per share is expected to be in the range of $0.22 to $0.09.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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