MaxLinear shares sank 4.1% in extended trading on Thursday even as the semiconductor company reported third-quarter results and guidance that topped Wall Street's forecast.
For the period ending Sept. 30, MaxLinear said it earned an adjusted $0.62 per share as revenue rose 72% year-over-year to $218.1M. Analysts had expected the company to earn an adjusted $0.56 per share on $214.9M.
“Our Q3 results underscore the significant growth inflection underway across MaxLinear’s overall business. We delivered 72% year-over-year revenue growth, including 210% growth year over year in AI datacenter-centric infrastructure revenue,” said MaxLinear CEO and Chairman Kishore Seendripu in a statement. “Strong momentum in our optical AI data center business reflects the volume ramp of our Keystone PAM4 DSP platform, as well as the strength of our expanding infrastructure portfolio and customer activity centered around our Rushmore and Annapurna product families of 1.6T-capable optical and electrical products. These solutions enable a broad range of emerging AI data center architectures. With the convergence of multiple growth drivers fueling our data center-focused business, new product introductions expanding our footprint and content, our relentless focus on innovation, operational excellence, and disciplined execution, we believe MaxLinear is well-positioned to deliver sustained growth, expanding profitability, and long-term value for our shareholders.”
Looking ahead to the fourth quarter, MaxLinear expects revenue to be between $240M and $260M, well above the $226.7M analysts expected. Adjusted gross margins are forecast to be between 59% and 62%, with the midpoint above the 60.2% estimate.
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