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Cirrus Q2 Results Top Estimates; Shares Jump By

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By Yasin Ebrahim – Cirrus Logic reported Tuesday second-quarter results that beat analysts’ forecasts, driven by stronger smartphone demand.  

Cirrus Logic (NASDAQ:) rose more than 6% in afterhours trading following the report. 

The fabless semiconductor supplier earnings per share of $1.99 on revenue of $540.6M. Analysts polled by anticipated EPS of $1.45 on revenue of $468.38M.

Looking ahead to Q3, the company guided revenue in a range of $520 million to $580 million.

The better-than-expected results were driven by “higher unit volumes and high-performance mixed-signal content gains in smartphones,” the company said. 

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