Why Monolithic Power Systems Powered Up an 8% Gain This Week
Monolithic Power Systems (NASDAQ: MPWR) was quite an electric stock on the exchange this week. According to data from S&P Global Market Intelligence, its share price zoomed nearly 8% higher; this was due to quarterly earnings that the market found quite heartening -- not to mention an increased shareholder payout.
After market hours on Wednesday, Monolithic published its fourth-quarter and full-year 2022 results. For the former period, the company's revenue was $460 million. While that was 7% down on a year-over-year basis, it landed slightly above the average analyst estimate of $459.9 million.
The story on the bottom line was dramatically different. Monolithic improved its non-GAAP (adjusted) net income by a sturdy 51%, coming in at just over $154 million ($3.17 per diluted share). Pundits following the stock had been modeling $3.13 for profitability.
Source Fool.com
