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Cirrus Logic Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) released a profit for its second quarter that advanced from last year.

The company's profit totaled $76.21 million, or $1.27 per share. This compares with $58.17 million, or $0.93 per share, in last year's second quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $93.27 million or $1.55 per share for the period.

Analysts had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.2% to $388.91 million from $366.31 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q2): $93.27 Mln. vs. $67.12 Mln. last year. -EPS (Q2): $1.55 vs. $1.08 last year. -Analysts Estimate: $0.94 -Revenue (Q2): $388.91 Mln vs. $366.31 Mln last year.

-Guidance: Next quarter revenue guidance: $325 - $365 Mln

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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