04:33 PM EDT, 05/01/2024 (MT Newswires) -- Monolithic Power Systems ( MPWR ) reported Q1 non-GAAP earnings late Wednesday of $2.81 per diluted share, down from $3 a year earlier.

Analysts polled by Capital IQ expected $2.64.

Revenue for the quarter ended March 31 was $457.9 million, up from $451.1 million a year earlier.

Analysts surveyed by Capital IQ expected $445 million.

The company said it projects Q2 revenue between $480 million and $500 million. Analysts polled by Capital IQ are looking for $472.9 million.

Shares of Monolithic Power Systems ( MPWR ) were up 2.7% in after-hours activity.

Price: 670.00, Change: +17.41, Percent Change: +2.67