<<Semtech FY Q2 Revs Beat; Q3 Guide Tops Estimates

Semtech (SMTC) this afternoon reported revenue for its fiscal second quarter ended July 26 of $66.3 million, up 10% sequentially, down 15% year over year and ahead of the Street consensus at $64. 5 million. GAAP EPS of 12 cents a share beat the Street at 10 cents.

For the third quarter, the chip maker sees revenue up 6%-10% sequentially, which implies $70.3 million to $72.9 million, well ahead of the Street consensus at $67.8 million. The company sees GAAP profits for Q3 of 12-14 cents.

Warning: the consensus estimates listed on Yahoo and elsewhere are non-GAAP numbers; they show 16 cents for Q2 and 18 cents for Q3. But the company only reported GAAP results.

In late trading, SMTC is down 53 cents, or 3%, to $17.>>