MaxLinear, Inc. (MXL) shares tumbled 14.73% in the after-hours trading session on Wednesday, following the company's disappointing fourth-quarter results that showed a continued decline in revenue and widening losses.
The semiconductor company reported revenue of $92.17 million for the quarter ended December 31, 2024, a steep 26.5% drop from the same period last year. This missed analysts' expectations of $89.9 million in revenue. Furthermore, MaxLinear posted a quarterly net loss of $57.84 million, or an adjusted loss of $0.09 per share, compared to an adjusted profit of $0.01 per share in the prior-year quarter.
While MaxLinear's adjusted loss per share beat Wall Street's consensus estimate of a $0.13 loss, the company's overall financial performance failed to impress investors. The substantial year-over-year revenue decline and ongoing net losses underscore the challenges MaxLinear is facing in its business operations.
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