Synaptics (SYNA) Tops Q2 EPS by 17c; Offers 3Q Revenue Guidance Above Consensus

Synaptics (NASDAQ: SYNA) reported Q2 EPS of $2.30, $0.17 better than the analyst estimate of $2.13. Revenue for the quarter came in at $357.6 million versus the consensus estimate of $357.37 million.

Q2’21 Financial Results and Recent Business Highlights

• Revenue of $357.6 million
• GAAP Gross Margin of 42.1 percent
• Record non-GAAP Gross Margin of 52.1 percent
• GAAP diluted earnings per share of $1.36
• Record non-GAAP diluted earnings per share of $2.30
• Record revenue for IoT and PC businesses for the December quarter

“Synaptics delivered an outstanding December quarter with revenues exceeding the mid-point of our guidance, and the highest non-GAAP gross margins, net income and EPS in the company’s 35-year history,” said Michael Hurlston, Synaptics’ president and CEO. “Overall, our diversification strategy with a tilt toward IoT and PC is paying dividends with both businesses delivering record revenue in the quarter. IoT now represents our largest business, giving us a stable foundation from which we can more aggressively drive top line growth.”

GUIDANCE:

Synaptics sees Q3 2021 revenue of $310-340 million, versus the consensus of $305.81 million.

For earnings history and earnings-related data on Synaptics (SYNA) click here.

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