Investing.com - MagnaChip reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
MagnaChip announced earnings per share of $0.02 on revenue of $71.2M. Analysts polled by Investing.com EPS of $0.10 on revenue of $106.73M.
MagnaChip 's are down 32% and is trading at $10.08 , still down 54.76% from its 52 week high of $22.28 set on Friday, December 31, 2021.
MagnaChip follows other major Information Technology sector earnings this month
MagnaChip's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, for EPS of $2.32 on revenue of $49.86B.
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