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2021-10-28

Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

Chipmaker Silicon Laboratories(SLAB) on Wednesday crushed expectations for its fiscal third quarter

Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

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The news sent SLAB stock skyward.</p>\n<p>The Austin, Texas-based company earned an adjusted 34 cents a share on sales of $184.8 million in the quarter ended Oct. 2. Analysts expected Silicon Labs to earn 15 cents a share on sales of $175.2 million, according to FactSet.</p>\n<p>Its sales from continuing operations rose 39% year over year. During the third quarter, Silicon Labs completed the divestiture of its Infrastructure and Automotive business to&nbsp;<b>Skyworks Solutions</b>(SWKS) for $2.75 billion in cash.</p>\n<p>For the current quarter, Silicon Labs expects to earn an adjusted 55 cents a share on sales of $200 million. That's based on the midpoint of its outlook. Wall Street was modeling earnings of 19 cents a share on sales of $179 million, FactSet said.</p>\n<p>SLAB Stock Breaks Out</p>\n<p>On the&nbsp;stock market today, SLAB stock rocketed 18.9% to close at 184.06. 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The news sent SLAB stock skyward.\nThe Austin, Texas-...</p>\n\n<a href=\"https://www.investors.com/news/technology/slab-stock-silicon-labs-blasts-higher-on-q3-earnings/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investors.com/news/technology/slab-stock-silicon-labs-blasts-higher-on-q3-earnings/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189541762","content_text":"Chipmaker Silicon Laboratories(SLAB) on Wednesday crushed expectations for its fiscal third quarter and guided much higher for the current period. The news sent SLAB stock skyward.\nThe Austin, Texas-based company earned an adjusted 34 cents a share on sales of $184.8 million in the quarter ended Oct. 2. Analysts expected Silicon Labs to earn 15 cents a share on sales of $175.2 million, according to FactSet.\nIts sales from continuing operations rose 39% year over year. During the third quarter, Silicon Labs completed the divestiture of its Infrastructure and Automotive business to Skyworks Solutions(SWKS) for $2.75 billion in cash.\nFor the current quarter, Silicon Labs expects to earn an adjusted 55 cents a share on sales of $200 million. That's based on the midpoint of its outlook. Wall Street was modeling earnings of 19 cents a share on sales of $179 million, FactSet said.\nSLAB Stock Breaks Out\nOn the stock market today, SLAB stock rocketed 18.9% to close at 184.06. 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Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

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