Loading...
•
Sep 24, 2022
Synaptics Q1 2023 Earnings Report
Reported strong Q1 2023 results with revenue up 20% YoY and record gross and operating margins.
Key Takeaways
Synaptics reported a strong first quarter of fiscal year 2023, with total revenue up 20% compared to the prior year. The company set records for both GAAP and non-GAAP gross margins, as well as non-GAAP operating margins. However, the company expects revenue to decline sequentially in the December quarter due to macroeconomic headwinds and customer caution.
Revenue of $448.1 million.
IoT revenue increased 67% YoY.
Record GAAP gross margin of 57.1 percent.
Record non-GAAP gross margin of 62.6 percent.
Forward Guidance
For the second quarter of fiscal year 2023, the company expects revenue to be in the range of $350 million to $380 million, GAAP gross margin to be between 53.0 percent and 56.0 percent, and non-GAAP gross margin to be between 60.0 percent and 62.0 percent.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...