Cirrus Logic (CRUS) Q3 Earnings & Revenues Top Estimates, Up Y/Y

Cirrus Logic Inc. (CRUS) reported third-quarter fiscal 2024 adjusted earnings per share (EPS) of $2.89, which beat the Zacks Consensus Estimate by 43.8%. Also, the bottom line increased 20.4% from the prior-year quarter’s $2.40.Total revenues of $619 million surpassed the Zacks Consensus Estimate by 14.7% and increased 5% year over year. The uptick was driven by solid sales of components shipping and smartphones, owing to strength in orders from its largest customer.Following the announcement, the company’s ...