Investing.com - Richardson Electronics reported first quarter earnings that beat analyst's expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of $0.03 on revenue of $44.16M. Analysts polled by Investing.com EPS of $-0.12 on revenue of $34.10M. That compared to EPS of $-0.01 on revenue of $37.00M in the same period a year earlier The company had reported EPS of $0.14 on revenue of $45.49M in the previous quarter.
Richardson Electronics shares lost 1% to trade at $8.24 in intra-day trade following the report.
For the year, Richardson Electronics shares are up 24.85%, outperforming the Nasdaq which is up 7% year to date.
Richardson Electronics follows other major Technology sector earnings this month
On Monday, September 17, 2018, Oracle (NYSE:ORCL) reported first quarter EPS of $0.71 on revenue of $9.2B, compared to forecasts of EPS of $0.68 on revenue of $9.25B.
Adobe (NASDAQ:ADBE) earnings beat analyst's expectations on Thursday, September 13, 2018, with third quarter EPS of $1.73 on revenue of $2.29B. Investing.com analysts expected EPS of $1.69 on revenue of $2.25B