Cirrus Logic: Fiscal Q2 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Wednesday reported fiscal second-quarter net income of $114.7 million.

On a per-share basis, the Austin, Texas-based company said it had net income of $2.23. Earnings, adjusted for one-time gains and costs, were $2.70 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.

The chipmaker posted revenue of $559.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $540.6 million.

For the current quarter ending in December, Cirrus Logic said it expects revenue in the range of $510 million to $570 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRUS at https://www.zacks.com/ap/CRUS