11:30 AM EDT, 05/10/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Diodes (DIOD) shares were down more than 9% in recent Friday trading after the company's Q1 adjusted earnings and revenue fell more than expected.

The company reported Q1 adjusted earnings late Thursday of $0.28 per diluted share, down from $1.59 a year earlier.

Four analysts polled by Capital IQ expected $0.32.

Revenue for the quarter ended March 31 was $302 million, down from $467.2 million a year earlier.

Analysts surveyed by Capital IQ expected $302.6 million.

Diodes expects Q2 revenue of $316 million, plus or minus 3%. Analysts polled by Capital IQ are looking for $316.1 million.

Price: 69.07, Change: -7.40, Percent Change: -9.68