Silicon Motion Technology Corp. (SIMO) reported strong first-quarter performance, with significant growth in revenue and profitability compared with the same period last year.
Operating income rose to $52.20 million from $9.77 million in the prior-year quarter.
Net income increased to $66.79 million or $1.97 per ADS from $19.46 million or $0.58 per ADS a year earlier. Excluding one-time items, adjusted earnings were $53.85 million or $1.58 per ADS.
Revenue grew to $342.11 million from $166.49 million last year.
For the second quarter, the company expects revenue growth of 98% to 107% to $393 million to $411 million.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.