Magnachip Q1 revenue $57M, down 45% YoY; GAAP loss $0.49 per share

MAGNACHIP SEMICONDUCTOR Corp

2023-Q1 EPS reported -$0.49 revenue$57,005,000

Revenue of $57.0M, within guidance, but down 45.2% YoY due to wafer shortage and inventory correction.
GAAP diluted loss per share $0.49; non-GAAP diluted loss per share $0.24.
Gross profit margin 21.2% (low end of guidance), down from 37.5% a year ago.
Display Solutions revenue $10.8M (-62.9% YoY); Power Solutions $40.7M (-37.3%).
CEO expects recovery in H2 2023 but near-term results remain soft.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MAGNACHIP SEMICONDUCTOR Corp reported first quarter ended March 31, 2023 results: revenue $57.0 million, net income Net Income (Loss) (21,470), EPS GAAP diluted loss per share was $0.49.

Period: first quarter ended March 31, 2023
Revenue: $57.0 million
Net income: Net Income (Loss) (21,470)
EPS: GAAP diluted loss per share was $0.49
Result: reported results

Exact text from the filing

Magnachip Reports Results for First Quarter 2023 • Revenue of $57.0 million

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Source: SEC EDGAR

accession 0001140361-23-022718

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