Shares of SiTime Corp (NASDAQ:SITM) soared 5.01% in Wednesday's trading session after the company reported impressive fourth quarter 2024 earnings results that blew past Wall Street expectations.
For Q4, SiTime posted adjusted earnings per share of $0.93, significantly higher than the analyst consensus estimate of $0.42. This represented a massive 287.5% increase compared to earnings of $0.24 per share in the same period a year ago.
Quarterly sales of $68.1 million also exceeded expectations, up 60.6% year-over-year and beating the $64.02 million analyst consensus. The strong top and bottom line results highlight SiTime's continued growth momentum and execution in the timing solutions market.
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