Aquantia Corp (AQ) Tops Q2 EPS by 2c, Slight Revenue Beat

July 25, 2018 4:06 PM

Aquantia Corp (NYSE: AQ) reported Q2 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $30.4 million versus the consensus estimate of $30 million.

“The circle of Multi-Gig influence continues to widen. In the second quarter, we announced collaborations with tier one service providers in Asia and saw new classes of devices with our Multi-Gig technology announced at Computex. We also announced the first USB to Multi-Gig Ethernet Controller which will enable new levels of wired connectivity for laptop users,” said Faraj Aalaei, Chairman and CEO. “We are very pleased that the strong momentum that we began the year with continues as revenue growth is up in the second quarter by 21 percent over the same period last year. Our Enterprise, Access and Automotive businesses exhibited revenue growth in the quarter driven by strong customer demand across these markets. We expect to see continued growth in the second half of the year as well as a pickup in our Data Center business.”

Second Quarter 2018 Highlights:

For earnings history and earnings-related data on Aquantia Corp (AQ) click here.

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