MagnaChip reports Q2 adjusted EPS (8c), two estimates (12c)

Reports Q2 revenue $47.62M, two estimates $47.2M. Y.J. Kim, Magnachip’s (MX) CEO said, “In Q2, Magnachip delivered our fifth consecutive quarter of year-over-year revenue growth from continuing operations, driven primarily by strong performances in our communications and computing applications businesses. The quarter also benefited from some pull-in activity by customers, which contributed to the overall strength of the results. In industrial applications, we continued to see solid demand across key end markets, including e-motors, LED lighting, and 5G battery management systems.”