Cypress Semiconductor (CY) Tops Q2 EPS by 5c, Beats on Revenues; Offers Positive Q3 EPS & Revenue Outlook

Cypress Semiconductor (NASDAQ: CY) reported Q2 EPS of $0.21, $0.05 better than the analyst estimate of $0.16. Revenue for the quarter came in at $593.78 million versus the consensus estimate of $546.87 million.

GUIDANCE:

Cypress Semiconductor sees Q3 2017 EPS of $0.21-$0.25, versus the consensus of $0.21. Cypress Semiconductor sees Q3 2017 revenue of $585-615 million, versus the consensus of $578.23 million.

• Revenue of $593.8 million was up 11.6% sequentially and exceeded guidance
• GAAP and non-GAAP margin were 39.8% and 40.9%, respectively
• GAAP and non-GAAP diluted EPS increased 50% and 62% sequentially, respectively
• Achieved record revenue for automotive, IoT wireless connectivity and USB-C solutions

For earnings history and earnings-related data on Cypress Semiconductor (CY) click here.

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