Cirrus Q2 Results Top Estimates; Shares Jump

By Yasin Ebrahim

Investing.com - Cirrus Logic reported Tuesday second-quarter results that beat analysts' forecasts, driven by stronger smartphone demand.

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

The fabless semiconductor supplier reported earnings per share of $1.99 on revenue of $540.6M. Analysts polled by Investing.com 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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