Freescale Semiconductor Earnings: One Step Better Than Wall Street Analysts
Freescale Semiconductor Holdings I, Ltd. (NYSE:FSL) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. Shares are up 0.08%.
Freescale Semiconductor Holdings I, Ltd. Earnings Cheat Sheet
Results: Net loss of $35 million (14 cents per diluted share) in the quarter versus a net loss of $6 million in the year-earlier quarter.
Revenue: Decreased 5.53% to $957 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Freescale Semiconductor Holdings I, Ltd. reported adjusted net loss of 15 cent per share. By that measure, the company beat the mean analyst estimate of a net loss of 17 cents per share. It beat the average revenue estimate of $940.39 million.
Quoting Management: “Looking forward, we have built a good foundation for future growth by charting a new course that has the buy-in of our customers and our employees,” said Gregg Lowe, president and CEO…
…We’ve assembled a strong management team that is committed to helping deliver long-term growth and profitability.”
Revenue decreased 5.15% from $1.01 billion in the previous quarter. Net income increased to $0 in the quarter versus a net loss of $24 million in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.02 to a loss $0. For the current year, the average estimate is a loss of $0, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials.)