Cirrus Logic: Fiscal Q3 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal third-quarter net income of $138.7 million.

On a per-share basis, the Austin, Texas-based company said it had profit of $2.50. Earnings, adjusted for one-time gains and costs, were $2.89 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.

The chipmaker posted revenue of $619 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $539.5 million.

For the current quarter ending in March, Cirrus Logic said it expects revenue in the range of $290 million to $350 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