SiTime Corporation (SITM) shares skyrocketed 33.98% over the past 24 hours, driven by a powerful after-hours rally following the release of its second-quarter 2026 financial results. The precision timing chipmaker reported adjusted earnings per share of $2.34, crushing the analyst consensus estimate of $1.95 by 20%, while revenue more than doubled to $157.4 million, far exceeding the $146.4 million forecast.

The company’s GAAP net income swung to a profit of $18.2 million, or $0.66 per diluted share, compared to a loss of $20.2 million a year earlier. All business segments grew at least 50%, with the CED segment surging 181%, and non-GAAP gross margin expanded to 67.1% from 58.2%. Investors also cheered the completion of the Renesas timing business acquisition on July 1, which added over 550 clocking products and reinforced SiTime’s leadership in precision timing solutions.

The stellar results and upbeat outlook ignited a sharp post-market surge, with the stock jumping as much as 6.8% in after-hours trading on Wednesday, fully reversing an intraday decline and propelling the 24-hour gain to over 33%. The strong earnings beat and strategic acquisition progress have renewed confidence in SiTime’s growth trajectory and its ability to capitalize on booming demand in AI data centers, automated driving, and other high-growth markets.