Silicon Motion: Q3 Earnings Snapshot

HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Wednesday reported third-quarter profit of $65.3 million.

The Hong Kong-based company said it had net income of $1.91 per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $4.35 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.30 per share.

The chip company posted revenue of $560.22 billion in the period. Its adjusted revenue was $560 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $532.8 million.

For the current quarter ending in December, Silicon Motion said it expects revenue in the range of $588 million to $616 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIMO at https://www.zacks.com/ap/SIMO