MagnaChip (MX) Tops Q4 EPS by 24c

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Go back to MagnaChip (MX) Tops Q4 EPS by 24c

MagnaChip Revenue of $200.0 Million At High-End of Updated Q4 2019 Guidance Range; OLED Revenue of $67.3 Million in Fourth Quarter Up Two-Fold Year-Over-Year

February 19, 2020 4:05 PM EST

SEOUL, South Korea and SAN JOSE, Calif., Feb. 19, 2020 /PRNewswire/ -- MagnaChip Semiconductor Corporation (NYSE: MX) today announced financial results for the fourth quarter of 2019 and full year.

Q4 2019 Highlights

Revenue of $200.0 million exceeded high-end of original guidance range of $181-191 million provided on October 23, 2019; met high-end of updated guidance range of $198-200 million provided on January 13, 2020. Q4 revenue up 11.5% Year-over-Year (YoY); down 12.9% Quarter over Quarter (QoQ) due primarily to normal seasonal softness; OLED revenue significantly better-than-expected, Foundry revenue better-than-expected, and Power revenue softer-than-expected.... More