Maxim Integrated Products, Inc. (NASDAQ:MXIM) 2Q17 Profit Up 43.8%; Beats Street View

Maxim Integrated Products, Inc. (NASDAQ:MXIM) 2Q17 Profit Up 43.8%; Beats Street View

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Maxim Integrated Products, Inc. (NASDAQ:MXIM) MXIM: (%) reported third quarter earnings , after the bell today, that beat street view.

On a GAAP basis, MXIM reported net income of $ 130.48 million or 45 cents per share, compared with income of $ 37.47 million or 23 cents per share, a year ago period.

Excluding items, the company announced adjusted earnings of $ 132.70 million or 46 cents per share, where as analysts from Thomson Reuters expected $ 0.43 a share.

The company Net Revenue rose 7.86% to $ 551.00 million, Analysts from Thomson Reuters estimated $ 540.44 million.

For the next quarter, the company expects revenue in the range of $555 million to $595 million, while diluted earning per share are anticipated between $0.43 to $0.49 on GAAP basis and $0.49 to $0.55 excluding special items.

Further, MXIM announced, a cash dividend of $0.33 per share that will be paid on March 16, 2017, to stockholders of record on March 2, 2017.