MagnaChip Q2 2023 Earnings Report
Key Takeaways
Magnachip reported Q2 2023 results with revenue of $61.0 million, in-line with guidance. The company saw sequential improvement in the Power business and authorized a new $50 million stock buyback program.
Revenue of $61.0 million was in-line with guidance and up 7% sequentially.
Gross profit margin was 22.2%, up 100 basis points from Q1.
GAAP diluted loss per share was $0.09; Non-GAAP diluted loss per share was $0.06.
Board of Directors authorized a new $50 million stock buyback program.
MagnaChip
MagnaChip
MagnaChip Revenue by Segment
Forward Guidance
Magnachip expects Q3 2023 revenue to be in the range of $59 million to $65 million, including about $8 million of Transitional Fab 3 Foundry Services, and gross profit margin to be in the range of 22.5% to 24.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income