MaxLinear slips on weak Q3 rev outlook after Q2 miss

MaxLinear

27/07/2023 10:29

** Shares of integrated circuit design co MaxLinear Inc
 MXL.O  down 9.8% at $26.71, premarket
    ** Co expects Q3 net revenue to be about $125-$155 mln,
below analysts est. of $172.4 mln
    ** Posts Q2 net rev of $183.9 mln, also missing analysts
est. of $190.3 mln 
    ** "In 2023, we continue to lay important groundwork in
Wi-Fi, fiber broadband access gateways, and wireless and optical
datacenter network infrastructure, which will be the foundation
for our growth throughout 2024,” commented Kishore Seendripu,
CEO
    ** As of last close, MXL shares down 12.78% YTD


 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))