MaxLinear ups 2Q20 guidance thanks to broadband, analog products strength
In a sign that COVID-19 induced economic problems the industry experienced in the first part of this year may be receding, communications semiconductor firm MaxLinear, Inc. (NYSE:MXL) has restated guidance for its fiscal second quarter of 2020 upward. The company says an increase in demand for its broadband products, as well as recovery in analog products, should lead it to exceed previous revenue guidance for the quarter.
MaxLinear originally forecast revenues of between $60 million and $64 million. However, it now believes it could reach $65 million to $65.5 million.
“During the second quarter, our business has shown solid improvements with stronger-than-expected revenues driven by a broadband demand uptick as well as analog product sales recovery. While we have seen some negative COVID-19 related impacts, the work-from-home environment has strongly benefited our connected home business owing to noticeable inflection in bandwidth demand at home. The infrastructure business also saw meaningful quarterly improvements over previous results, supporting our positive outlook on the new product ramps that are just beginning,” explained Kishore Seendripu, Ph.D., MaxLinear’s chairman and CEO.
“Additionally, we expect MaxLinear’s acquisition of Intel’s Home Gateway Platform Division to close during the current quarter ending September 30, 2020,” Dr. Seendripu added (see "MaxLinear to buy Home Gateway Platform Division from Intel").
MaxLinear will report results for the quarter and provide guidance for the third quarter during an earnings conference call scheduled for July 23, 2020 after market close.
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
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