Cirrus Logic’s Q1 Earnings & Revenues Beat, Rise Y/Y
Cirrus Logic Inc. (NASDAQ: CRUS) reported first-quarter fiscal 2025 adjusted earnings per share of $1.12, which surpassed the Zacks Consensus Estimate by 80.7%. Also, the bottom line expanded 67.2% from the prior-year quarter’s 67 cents.
Total revenues of $374 million beat the Zacks Consensus Estimate by 17.7% and soared 18% year over year. The uptick was driven primarily by stronger-than-anticipated shipments into the smartphone market.
The company’s largest customer accounted for 88% of total revenues in the fiscal first quarter.
Following the announcement, the company’s shares gained 11.9% in aftermarket trading on Aug 6, 2024. The stock has rallied 39.1% in the past year compared with the sub-industry’s growth of 37.7%.
Image Source: Zacks Investment Research
Segment Details
This Texas-based company rearranged its reportable segments and created separate categories, High-Performance Mixed-Signal and Audio in the fourth quarter of fiscal 2021. Cirrus Logic is expanding into other applications such as laptops, gaming, tablets and AR/VR.
CRUS’ High-Performance Mixed-Signal segment includes a few of its non-audio products. The segment, which contributed 41% to total revenues in the fiscal first quarter, rose 27.9% year over year to $155 million.
The …
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