 Chipmaker MaxLinear Inc., which has a key hub in Irvine, reported record net revenue of $229.8 million in the third quarter, up 47% year-over-year and above analyst estimates. The shares rose 6.9% in after-hours trading.
Adjusted diluted earnings per share in the quarter ended Sept. 30 were 75 cents, compared to diluted earnings per share of 53 cents in the prior quarter, and diluted earnings per share of 32 cents in the year-ago quarter.
The company expects revenue in the current quarter to be approximately $240 million to $250 million.
Shares rose to $55.30 apiece in after-hours trading, following the release of the earnings, for a market cap around $4.2 billion.
MaxLinear (NYSE: MXL) makes chips for diverse markets, including broadband, connectivity, and communications infrastructure.
The company has nearly 200 employees in Irvine, and ranked No. 6 on this year’s Business Journal list of top OC chipmakers, while its base is in Carlsbad.
