MagnaChip (MX) Tops Q2 EPS by 12c
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Magnachip Reports Results for Second Quarter 2024
July 31, 2024 4:05 PM EDTFinancial Highlights
Q2 consolidated revenue was $53.2 million, above the mid-point of guidance range of $49-54 million. Q2 standard product business revenue was up 11.6% sequentially. Q2 consolidated gross profit margin was 21.8%, above the upper end of guidance range of 17-19%. Q2 standard product business gross profit margin was 23.1%, up nearly two percentage points sequentially. Ended Q2 with cash of $132.5 million; and also have an additional short-term financial investment of $30 million. Repurchased approximately 0.5 million shares for aggregate purchase price of $2.3 million during the... More