Synaptics Beats On Earnings, Moves Higher On Smartphone Fingerprint ID Products
Synaptics Incorporated (NASDAQ: SYNA) is up 4.5 percent in pre-market trading, driven by Thursday's quarterly earnings report, paired with growth in key areas of the company.
Synaptics reported Q2 EPS of $1.46 versus the estimated $1.41. EPS were up five percent from the same quarter last year. Revenue came in at $314.9 million versus the estimated $303.64 million. Sales were Up 37 percent year over year.
Synaptics stated in its new release, “Revenue from mobile products of $242.9 million was up 40% year-over-year. Mobile products revenue includes all touchscreen, video display, and applicable fingerprint ID products.”
The revenue growth came from the astounding growth in the mobile division, and in thumbprint sensor technologies. Synaptics inked a deal with Samsung earlier this year, and as a result the Samsung Galaxy S5 came with Synaptic's fingerprint technology.
Furthermore, there is some speculation that Synaptics may eventually get its thumbprint sensor technologies into the Apple iPhone.
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