Maxim Integrated Products Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Maxim Integrated Products Inc. (MXIM) announced a profit for its first quarter that increased from the same period last year.

The company's earnings totaled $169.51 million, or $0.63 per share. This compares with $140.16 million, or $0.51 per share, in last year's first quarter.

Excluding items, Maxim Integrated Products Inc. reported adjusted earnings of $195.11 million or $0.72 per share for the period.

Analysts had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.2% to $619.36 million from $533.04 million last year.

Maxim Integrated Products Inc. earnings at a glance:

-Earnings (Q1): $195.11 Mln. vs. $141.77 Mln. last year. -EPS (Q1): $0.72 vs. $0.52 last year. -Analysts Estimate: $0.58 -Revenue (Q1): $619.36 Mln vs. $533.04 Mln last year.