Synaptics Incorporated reported its financial results for the second quarter of fiscal 2025, ended December 28, 2024, on February 6, 2025. The company announced net revenue of $267.2 million, representing a 12.7% increase compared to $237.0 million in the corresponding quarter last year.
The GAAP diluted earnings per share was $0.05, while non-GAAP diluted earnings per share reached $0.92, surpassing analyst estimates of $0.86 and company guidance of $0.85 ± $0.20. Core IoT products were a significant driver, achieving 63% year-over-year growth.
Non-GAAP gross margin improved to 53.6% from 52.5% in the prior period. The company also repurchased approximately one million shares for $74.5 million during the quarter. For the third quarter of fiscal 2025, Synaptics provided guidance for GAAP earnings per share in the range of ($0.47) ± $0.30.
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