Cirrus Logic Q3 Adj EPS $2.89 Beats $2.01 Estimate, Sales $618.98M Beat $540.06M Estimate
Portfolio Pulse from saritha@benzinga.com
Cirrus Logic (NASDAQ:CRUS) reported Q3 adjusted EPS of $2.89, surpassing the $2.01 estimate, and sales of $618.98M, exceeding the $540.06M estimate. This represents a 20.42% increase in EPS and a 4.81% increase in sales from the same period last year.
February 06, 2024 | 9:01 pm
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Cirrus Logic reported a significant beat on both EPS and sales estimates for Q3, with EPS at $2.89 against a $2.01 estimate and sales at $618.98M against a $540.06M estimate.
Cirrus Logic's significant beat on both earnings per share and sales estimates for the quarter indicates strong financial performance and operational efficiency. This outperformance, especially in a competitive semiconductor industry, is likely to positively influence investor sentiment and could lead to a short-term uptick in CRUS stock price. The year-over-year growth in both EPS and sales further solidifies the company's growth trajectory, making it an attractive asset for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100