MaxLinear stock surges 77% after beating first-quarter expectations and raising forecast
Updated
Updated · CNBC · Apr 24
MaxLinear stock surges 77% after beating first-quarter expectations and raising forecast
10 articles · Updated · CNBC · Apr 24
MaxLinear reported adjusted earnings of 22 cents per share on $137.2 million revenue, surpassing analyst estimates of 18 cents per share and $134.6 million revenue.
The company’s improved outlook fueled a sharp rally, making MaxLinear one of the biggest movers in midday trading as investors responded to the positive results.
The broader semiconductor sector also rallied, with companies like Intel, Arm Holdings, and Qualcomm posting significant gains following strong earnings and renewed optimism in the AI and chip markets.
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