AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal third-quarter net income of $116 million.
The Austin, Texas-based company said it had net income of $2.11 per share. Earnings, adjusted for one-time gains and costs, were $2.51 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The chipmaker posted revenue of $555.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $510 million.
For the current quarter ending in March, Cirrus Logic said it expects revenue in the range of $350 million to $410 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
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