System-on-chip (SOC) supplier MaxLinear's stock rose 29% in after-hours trading, as the company's Q2 revenue guidance exceeded market expectations.

The company's net revenue for the first quarter was $137.2 million, while analysts expected $134.5 million. Adjusted EPS for the first quarter was $0.22, compared to analysts’ expectation of $0.18. The adjusted gross profit margin for the first quarter was 59.5%, in line with analysts' expectation of 59.5%. Revenue for the second quarter is expected to be between $160 million and $170 million, while analysts expected $137.1 million. Adjusted gross profit margin for the second quarter is expected to be between 58%-61%, compared to analysts’ expectation of 59.6%.