Cirrus Logic, a leading provider of audio and mixed-signal solutions, saw its stock soar 8.48% in pre-market trading on Wednesday. The significant surge was driven by the company's impressive third-quarter fiscal 2025 results, robust fourth-quarter guidance, and the appointment of a new Chief Financial Officer (CFO).
In the third quarter, Cirrus Logic delivered stellar financial performance, exceeding market expectations. The company reported revenue of $555.7 million, surpassing analysts' estimates of $510.3 million, fueled by robust demand for its smartphone audio components and expanded content in laptops. Additionally, Cirrus Logic's non-GAAP earnings per share (EPS) of $2.51 surpassed expectations by 18.4%, reflecting a favorable product mix and lower supply chain costs that boosted gross margin to 53.6%.
Furthermore, the company provided an upbeat outlook for the fourth quarter of fiscal 2025, projecting revenue between $350 million and $410 million, higher than the consensus estimate of $361 million. This strong guidance underscores the continued demand strength for Cirrus Logic's products, driving investor confidence and contributing to the stock's pre-market surge.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.