Recap: Cirrus Logic Q3 Earnings
Portfolio Pulse from Benzinga Insights
Cirrus Logic (NASDAQ:CRUS) reported Q3 earnings with an EPS of $2.89, surpassing the estimate of $2.01 by 43.78%. Revenue increased by $28.40 million from the previous year. The company has consistently beaten EPS estimates over the past four quarters, with the share price slightly increasing by 0.27% the day after last quarter's earnings announcement.
February 06, 2024 | 9:05 pm
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Cirrus Logic reported a significant beat on Q3 earnings with an EPS of $2.89 against estimates of $2.01 and a revenue increase of $28.40 million YOY. The company has a history of surpassing earnings estimates, which has previously led to a slight increase in share price.
Cirrus Logic's significant beat on earnings estimates and consistent history of outperforming expectations suggest a positive short-term impact on its stock price. The previous quarter's performance, where a beat on EPS led to a slight increase in share price the following day, supports this analysis. However, market conditions and broader economic factors could influence the actual movement.
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