Chip maker Volterra posts second-quarter jump in profit and sales, but shares fall

Volterra posts 2Q jump in profit and sales

FREMONT, Calif. — Volterra Semiconductor Corp., which makes chips that regulate power supplies, on Monday reported a big spike in profit for its second quarter as revenue almost doubled compared to a year ago, but its shares fell as investors expected even better.

For the quarter ended June 30, Volterra earned $9 million, or 34 cents per share, compared with $1.1 million, or 4 cents per share, in the year-ago quarter.

Excluding items, earnings would have been 40 cents per share, the company said. Analysts surveyed by Thomson Reuters expected a profit of 37 cents per share on that basis.

Revenue rose 77 percent to $40.2 million from $22.8 million, matching analyst expectations.

The Fremont-based company’s shares fell $2.60, or 9.4 percent, to $27.65 in extended trading, after the release of the results. In regular trading, the stock reached as high as $28.18, close to the 52-week high of $29.93.