Silicon Motion (SIMO) has released an update.
Silicon Motion Technology Corporation reported a strong financial performance for the second quarter of 2024, with sales surging 11% quarterly and 50% year-over-year to $210.7 million. Profits also saw a sharp increase, with net income reaching $30.8 million, a significant jump from $16.0 million in the previous quarter. The company’s SSD controller sales remained stable, while eMMC+UFS controller sales soared, contributing to an optimistic outlook for the fiscal year.
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