Macom reports Q2 EPS (18c), consensus (11c)
Reports Q2 revenue $128.5M, consensus $125.05M. Reports Q2: gross margin 48.7% vs. 51.6% last year, adjusted EBITDA $3.4M vs. $23.3M last year. CEO John Croteau states: "Q2 was a challenging quarter as the magnitude of the Data Center inventory correction has been deeper and more disruptive than we originally anticipated. However, some customers are indicating they will be exiting the quarter at more normalized inventory levels, which is a leading indicator of a recovery in the second half of the year. Despite this temporary, albeit precipitous market correction in Data Centers, the fundamental demand drivers for each of our growth opportunities remain intact with several potentially coming to fruition simultaneously."