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PXLW — Pixelworks News Story

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Display chipmaker Pixelworks Q3 revenue rises

Overview

Pixelworks Q3 revenue missed analyst expectations, adjusted loss per share beat estimates

Company completed sale of $3 mln non-strategic patents

Announced sale of Pixelworks Shanghai subsidiary to VeriSilicon-led entity

Outlook

Pixelworks expects to unlock shareholder value with the sale of its Shanghai subsidiary

Pixelworks transitioning to a global technology licensing business model

Result Drivers

REVENUE GROWTH - Sequential revenue increase driven by growth across all end markets, led by home and enterprise sectors

COST REDUCTION - Previous cost reduction actions led to decreased operating expenses and expanded gross margins

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 RevenueMiss$8.77 mln$9 mln (1 Analyst)
Q3 Adjusted EPSBeat-$0.69-$0.86 (1 Analyst)
Q3 Net Income-$4.59 mln
Q3 Adjusted Gross Margin49.90%
Q3 Income from Operations-$5.62 mln
Q3 Operating Expenses$9.99 mln
Q3 Pretax Profit-$5.10 mln
Analyst Coverage The one available analyst rating on the shares is "buy" The average consensus recommendation for the semiconductors peer group is "buy" Wall Street's median 12-month price target for Pixelworks Inc is $15.00, about 59.1% above its November 10 closing price of $6.13 Press Release: ID:nPnchnmsBa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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