Stock Track | MaxLinear Soars 6.29% Intraday on Q1 Earnings Beat and Raised Guidance
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MaxLinear's stock soared 6.29% during intraday trading on Friday, continuing its positive momentum.
The chipmaker reported first-quarter net revenue of $137.2 million, representing a 43% year-over-year increase that exceeded analyst expectations. Adjusted earnings per share came in at $0.22, turning profitable from a loss of $0.05 in the prior-year period and beating market consensus. Additionally, the company raised its second-quarter revenue guidance to a range of $160 million to $170 million, above market forecasts.
This performance highlights MaxLinear's strategic shift from traditional broadband chips toward AI data center and high-speed optical interconnect markets, driving the positive price movement.
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