Netlist Q2 revenue rises, swings to profit

Overview

• US memory solutions firm's Q2 revenue rose 163% yr/yr

• Company swung to Q2 net income from a loss a year earlier

• Gross profit for Q2 surged 1,544% yr/yr

Outlook

• Company did not provide specific guidance for the current quarter or full year in the press release

Result Drivers

• AI MEMORY TECHNOLOGIES - Co said ongoing development of next-generation AI memory technologies contributed to results

• IP PORTFOLIO DEFENSE - Co said it continues to defend its intellectual property portfolio, per CEO C.K. Hong

Company press release: ID:nPn9tJHhNa

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the computer hardware peer group is "buy"

• Wall Street's median 12-month price target for Netlist Inc is $5.00, about 104.5% above its July 29 closing price of $2.45

Reuters Recommended Reads

• July 27 - Rambus Q2 revenue rises 20%, beats analyst estimates

• July 28 - Teradyne Q2 results beat on record memory sales; shares soar

• July 29 - SK Hynix's record profit misses forecasts, shares slump 10% despite robust AI chip demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)