Pixelworks (PXLW) Tops Q3 EPS by 3c

Pixelworks (NASDAQ: PXLW) reported Q3 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $16.6 million versus the consensus estimate of $17.17 million.

“Revenues increased 10% sequentially in third quarter primarily driven by favorable seasonality and market share gains in our projection business," said Bruce Walicek, President and CEO of Pixelworks. “Most notable during the quarter, ASUS launched its flagship ZenPad tablet incorporating our Iris chip, which serves as a key proof point of market demand for TV quality video processing on mobile devices. Despite macroeconomic headwinds in the near term, we are pleased with the traction that we are achieving on our mobile initiative and expect it to drive meaningful growth for Pixelworks in 2016.”

For earnings history and earnings-related data on Pixelworks (PXLW) click here.

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