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Demand was incrementally weaker in Asia this quarter as customers deferred manufacturing-related spending in semiconductor, general electronics, and automotive markets in many cases well into next year.
weak spending in Asia--semi electribics
Transcript
2023 Q3
22 Aug 23
I’d say that if we look at our end markets and if you take a look at the commercial comps, especially in the wireless side, the top customer pull back is definitely macro related and related to the inventory exposure that they have, which has been widely talked about
top customer pull back
Transcript
2023 Q1
22 Feb 23
Commercial Communications, we saw the top customer pull back, especially in the wireless part of the business, due to the macro challenges and the inventory digestion that they were going through, especially with regard to the smartphone industry.
comms weak
Transcript
2023 Q1
22 Feb 23
As Satish mentioned, we expect it will take at least a couple of quarters for customers to work through their near-term challenges. If the current demand environment persists through our fourth quarter, we would expect to deliver low single-digit revenue and earnings per share growth for the year, achieved through steady backlog conversion, strong cost discipline, and the flexibility of our financial model.
Turning to our second quarter guidance.
We expect revenue to be in the range of $1,370 million to $1,390 million, and Q2 earnings per share to be in the range of $1.91 to $1.97, based on a weighted diluted share count of approximately 179 million shares.
guidance
Transcript
2023 Q1
22 Feb 23
We saw customers exercise caution in response to macroeconomic uncertainty. This was most notable among our largest customers in Commercial Communications, who were impacted by sharp demand decline in consumer electronics and computing segments. They are restructuring and reassessing their near-term priorities as the industry digests inventory, while at the same time maintaining investments across key, strategic programs.
While the duration is difficult to predict, we expect these dynamics to weigh on our customers for at least the next couple of quarters.
slowong
Transcript
2023 Q1
22 Feb 23
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