Why Synaptics Stock Popped Today
Shares of Synaptics (NASDAQ: SYNA) have popped today, up by 19% as of 11:30 a.m. EST, after the company reported fiscal second-quarter earnings. The interface technology developer beat expectations for both the top and bottom lines.
Revenue came in at $388.3 million, which topped the company's guidance, as well as the consensus estimate that called for $354.9 million in sales. That led to adjusted net income of $70.1 million, or $2.04 per share. Analysts were modeling for $1.45 per share in adjusted profits. Synaptics had also announced during the quarter that it was selling off its mobile LCD TDDI business for $120 million.
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Source Fool.com
