🔹 Net Sales: $1.140B (Est. $1.14B) 🟡; -2% YoY
🔹 EPS (Adj): $0.35 (Est. $0.34) 🟢
🔹 Gross Margin: 56.7% non-GAAP
Guidance (Q3’26)
🔹 Net Sales: $1.10–$1.15B (Est. $1.18B) 🔴
🔹 EPS (Adj): $0.34–$0.40 (Est. $0.39) 🟡
🔹 Gross Margin: 57.2%–59.2% non-GAAP
Other Metrics
🔹 Cash Returned to Shareholders: ~$245.8M dividends in Q2; declared $0.455/share dividend for Dec quarter
🔹 Bookings: +10% QoQ; Book-to-Bill: 1.06
🔹 Product Update: Introduced industry’s first 3nm PCIe Gen6 switch for AI/data center
CEO Commentary
🔸 “Q2 net sales grew 6% sequentially and topped guidance midpoint despite a gradual market recovery.” – CEO Steve Sanghi
🔸 “Operational efficiency and disciplined capital allocation are driving cash flow; we expect to reduce debt over coming quarters.” – CFO Eric Bjornholt
