Monolithic Power Systems Inc (MPWR) witnessed a remarkable 10.46% surge in its stock price during pre-market trading on Friday, driven by its impressive fourth-quarter 2024 results and an optimistic outlook for the first quarter of 2025.
In the fourth quarter ended December 31, 2024, the power management chipmaker reported revenue of $621.7 million, representing a 36.9% year-over-year increase and surpassing analyst estimates of $608.1 million. Adjusted earnings per share came in at $4.09, outperforming expectations of $3.98.
The strong performance was fueled by robust growth across multiple segments, particularly in Enterprise Data and Automotive. The Enterprise Data segment saw revenue surge 51.2% year-over-year to $194.9 million, driven by increasing demand for power solutions for AI and server applications. The Automotive segment also witnessed substantial growth, with revenue rising 43% year-over-year to $128.4 million.
Looking ahead, Monolithic Power Systems provided an encouraging outlook for the first quarter of 2025, forecasting revenue in the range of $610 million to $630 million, exceeding analyst estimates of $578.1 million. The company cited continued strong demand for its power control products as generative AI drives data center expansion, with Monolithic Power remaining a key supplier to industry leaders like Nvidia.