MaxLinear reported Q2 net revenue of $183.9 million, down 26% sequentially and down 34% year-over-year.
GAAP gross margin was 55.9%, compared to 56.5% in the prior quarter, and 58.7% in the year-ago quarter. GAAP diluted loss per share was $0.05, compared to diluted earnings per share of $0.12 in the prior quarter, and diluted earnings per share of $0.40 in the year-ago quarter. Non-GAAP diluted earnings per share was $0.34, compared to $0.74 in the prior quarter, and $1.11 in the year-ago quarter.
“Even as we navigate a challenging demand environment with fiscal discipline and operational efficiency, our solid execution and innovative product offerings are enabling us to maximize strategic business opportunities across all our end markets. In 2023, we continue to lay important groundwork in Wi-Fi, fiber broadband access gateways, and wireless and optical datacenter network infrastructure, which will be the foundation for our growth throughout 2024,” commented Kishore Seendripu, Ph.D., Chairman and CEO.
In addition, MaxLinear announced its decision to terminate its pending merger agreement with Silicon Motion.
