Cypress Semiconductor (CY) Tops Q1 EPS by 3c

Cypress Semiconductor (NASDAQ: CY) reported Q1 EPS of $0.27, $0.03 better than the analyst estimate of $0.24. Revenue for the quarter came in at $582.2 million versus the consensus estimate of $580.43 million.

“Cypress continued its solid execution this quarter with strong financial results and business performance,” stated Hassane El-Khoury, Cypress’ president and chief executive officer. “Our focus on the Cypress 3.0 strategy resulted in revenue increasing 9.5% and earnings per share more than doubling year over year. During the quarter, we expanded our embedded solutions portfolio with the introduction of several hardware and software innovations. These empowered Cypress, and our partners, to solve problems for consumer, industrial and automotive customers of all sizes, while also enhancing our ability to cross-sell our entire portfolio. The strength of our innovation muscle is clearly illustrated by our track record of winning with market movers, while simultaneously driving a significant increase in our overall customer count supporting our go-broad efforts.”

GUIDANCE:

Cypress Semiconductor sees Q2 2018 EPS of $0.27-$0.31, versus the consensus of $0.29. Cypress Semiconductor sees Q2 2018 revenue of $605-630 million, versus the consensus of $618.9 million.

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

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