Maxim Integrated Products (MXIM) Reports Q1 EPS In-Line, Revenues Beat; 2Q19 EPS/Revenue Outlook Below Consensus

Maxim Integrated Products (NASDAQ: MXIM) reported Q1 In-Line with estimates. Revenue for the quarter came in at $638 million versus the consensus estimate of $634.44 million.

Tunc Doluca, President and Chief Executive Officer, commented, "Our September quarter results were solid. Compared to the same quarter last year, revenue and profitability grew strongly, driven by Automotive, Consumer, Industrial and Data Center. Looking forward, we are seeing softening business conditions. However, we believe our business model enables us to be successful in any environment. Due to our strong free cash flow and positive net cash balance, we plan to return 125 percent of free cash flow to shareholders this fiscal year, by increasing the share buyback. We believe buying our shares is the best use of our cash in the current environment."

GUIDANCE:

Maxim Integrated Products sees Q2 2019 EPS of $0.59-$0.65, versus the consensus of $0.73. Maxim Integrated Products sees Q2 2019 revenue of $570-610 million, versus the consensus of $628.43 million.

For earnings history and earnings-related data on Maxim Integrated Products (MXIM) click here.

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