Why MaxLinear Stock Popped 20% on Thursday

Shares of MaxLinear (NASDAQ: MXL) jumped as much as 20% on Thursday after the company reported first-quarter 2022 earnings. Shares are up 10.5% as of 12:37 p.m. ET. 

After the market close on April 27, MaxLinear put out its Q1 2022 earnings report. Net revenue was $264 million, up 26% year over year, and non-GAAP adjusted earnings per share (EPS) was $1, up from $0.55 a year ago. Both numbers slightly beat the consensus analyst estimates heading into the report, which is why investors decided to bid up the stock today.

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Source Fool.com