Cirrus Logic, Inc. Tops Q1 EPS by 29c, Offers Guidance QA

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Cirrus Logic, Inc. Tops Q1 EPS by 29c, Offers Guidance QA

Cirrus Logic, Inc. (NASDAQ: CRUS ) reported Q1 EPS of $1.12, $0.29 better than the analyst estimate of $0.83. Revenue for the quarter came in at $393.6 million versus the consensus estimate of $366.35 million.

GUIDANCE:

Cirrus Logic, Inc. sees Q2 2023 revenue of $450-490 million, versus the consensus of $470 million.

  • GAAP gross margin is forecasted to be between 49 percent and 51 percent; and
  • Combined GAAP R&D and SG&A expenses are anticipated to range between $154 million and $160 million, including approximately $20 million in stock-based compensation expense, $8 million in amortization of acquired intangibles, and $3 million in acquisition-related costs.

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