Indie Semiconductor Cl A (INDI) said after close Thursday that it lost $0.08 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $60.5 million, beating estimates by $456 thousand.
In the same quarter a year ago, the company lost $0.1 per share on revenue of $30 million.
The stock is up 13.97% to $5.63 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 33. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Indie Semiconductor Inc is empowering the Autotech revolution with next-generation automotive semiconductors and software platforms. It focuses on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience, and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms.
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Indie Semiconductor Cl A Up 13.97% To $5.63 After Earnings Meet
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