Silicon Labs’ second quarter results
30 August 2024
News
Silicon Labs recently released its second-quarter financial highlights. Reported revenue was $145 million, with the Industrial & Commercial business accounting for $88 million, while Home & Life reported $57 million. GAAP gross margin was 53%, operating expenses totalled $125 million, with an operating loss amounting to $48 million. This resulted in a diluted loss per share of $-2,56.
“Silicon Labs delivered another quarter of strong sequential growth, driven by a combination of design wins ramping to production in key growth areas, and end customers working down their excess inventory,” said Matt Johnson, president and CEO at Silicon labs. “Looking forward, we expect revenue growth to continue in the third quarter, as excess inventory is further reduced, design wins continue ramping, and bookings improve.”
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