12:39 PM EDT, 10/31/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and the first paragraph.)

Monolithic Power Systems ( MPWR ) shares fell nearly 18% in recent Thursday trading, a day after the company posted its Q3 results ahead of consensus and issued a Q4 revenue outlook.

The company reported Q3 non-GAAP earnings Wednesday of $4.06 per diluted share, up from $3.08 a year earlier.

Analysts polled by Capital IQ expected $3.97.

Revenue for the quarter ended Sept. 30 was $620.1 million, up from $474.9 million a year earlier.

Analysts surveyed by Capital IQ expected $600.4 million.

The company said it expects Q4 revenue between $600 million and $620 million.

Analysts polled by Capital IQ expect $607.7 million.

Price: 755.28, Change: -164.53, Percent Change: -17.89