Apple (AAPL) Shares Gain After-Hours Following Dialog Prelim. Results

October 5, 2016 4:36 PM EDT
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(Updated - October 5, 2016 4:53 PM EDT)

Apple (NASDAQ: AAPL) gained after the market close on Wednesday, rising 0.5%. Some traders tied the move to preliminary Q3 revenue from Dialog Semiconductor, which came in at $345 million.

Supplies including Cirrus Logic, Inc. (NASDAQ: CRUS) and Broadcom Ltd. (NASDAQ: AVGO) also gained.

Press release:

Dialog Semiconductor plc (XETRA: DLG), a provider of highly integrated power management, AC/DC power conversion, solid state lighting and Bluetooth(R) low energy wireless technology, today reports preliminary Q3 2016 revenue of approximately $345 million, 13% above the mid-point of the July Q3 2016 outlook range and 5% above Q3 2015.

On 28 July 2016, Dialog indicated that it expected revenue in Q3 2016 to be in the range of $290 to $320 million. The higher than expected preliminary revenue reported today is partially the result of delivery dates for certain Q4 Mobile Systems orders being pulled forward into Q3 to accommodate a public holiday in China during the first week of October.

Dialog will review its Q4 2016 and full year guidance during the coming weeks. The company is currently finalising the financial accounts for Q3 2016 and will publish full results on Thursday, 3 November 2016.

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