SiTime: Q1 Earnings Snapshot

SANTA CLARA, Calif. (AP) _ SiTime Corporation (SITM) on Tuesday reported a loss of $3.6 million in its first quarter.

The Santa Clara, California-based company said it had a loss of 20 cents per share. Earnings, adjusted for stock option expense, were 19 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The company posted revenue of $35.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $33 million.

SiTime shares have declined 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $85.98, nearly quadrupling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SITM at https://www.zacks.com/ap/SITM