US Stocks Movement | Silicon Motion Technology surges 10.4% pre-market as Q2 earnings beat expectations and full-year revenue target doubles

Glonghui, July 30th｜Silicon Motion Technology shares surged 10.4% pre-market. According to reports, the company's Q2 2026 earnings significantly exceeded market expectations, and its Q3 performance guidance is far above analysts' estimates, with full-year target revenue expected to double. In Q2, the company achieved revenue of $451 million, a record high, up 127% year-on-year and 32% quarter-on-quarter, far surpassing analysts' expectations of $403 million. Adjusted earnings per share were $2.43, also higher than analysts’ forecast of $2.13. The company expects Q3 revenue of $519 million–$541 million (midpoint $530 million), which represents a 15%–20% quarter-on-quarter increase and a 114%–124% year-on-year increase. Full-year revenue is forecast to grow by more than 100% year-on-year, potentially setting a new record for the company’s annual revenue.