Allegro Microsystems (NASDAQ:ALGM) reported its Q1 earnings results on Thursday, July 28, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Earnings

Allegro Microsystems beat estimated earnings by 9.09%, reporting an EPS of $0.24 versus an estimate of $0.22.

Revenue was up $29.61 million from the same period last year.

Past Earnings Performance

Last quarter the company missed on EPS by $0.0 which was followed by a 4.34% drop in the share price the next day.

Here's a look at Allegro Microsystems's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Allegro Microsystems management provided guidance for Q2 2022, expecting earnings between $0.25 and $0.27 per share.

To track all earnings releases for Allegro Microsystems visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.