Silicon Labs (NASDAQ: SLAB) reported Q1 EPS of $0.91, $0.11 better than the analyst estimate of $0.80. Revenue for the quarter came in at $255.5 million versus the consensus estimate of $246.79 million.

"Despite significant supply constraints, strong bookings and durable demand momentum drove first quarter revenue to a new record of $255.5 million led by record revenue in IoT which grew 7% sequentially and 34% year-on-year," said Tyson Tuttle, CEO of Silicon Labs. "We continue to lead the market in wireless connectivity for a vast array of intelligent solutions. Last week's announcement to become a pure-play leader of intelligent, wireless connectivity for the IoT coupled with the global economic recovery from the pandemic fuels our excitement to capitalize on the massive growth opportunity in front of us."

GUIDANCE:

Silicon Labs sees Q2 2021 EPS of $0.88-$0.98, versus the consensus of $0.87. Silicon Labs sees Q2 2021 revenue of $262-272 million, versus the consensus of $251.15 million.

For earnings history and earnings-related data on Silicon Labs (SLAB) click here.