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MaxLinear (MXL) shares were up roughly 75% in Friday trading after the company posted a swing to Q1 adjusted earnings and higher revenue in addition to issuing higher-than-expected Q2 sales guidance on Thursday.
The company reported Q1 adjusted earnings late Thursday of $0.22 per diluted share, swinging from a loss of $0.05 a year earlier.
Analysts polled by FactSet expected EPS of $0.18.
Revenue for the three months ended March 31 was $137.2 million, up from $95.9 million a year earlier.
Analysts surveyed by FactSet expected $134.6 million.
For Q2, the company expects revenue of $160 million to $170 million. Analysts expect $137.1 million.
The company also amended its credit agreement with certain lenders to extend the maturity of the revolving credit facility to March 2028 and also increased the amount available under the facility to $130 million.
Price: $59.93, Change: $+25.68, Percent Change: +74.98%