AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal first-quarter profit of $60.7 million.
The Austin, Texas-based company said it had profit of $1.14 per share. Earnings, adjusted for one-time gains and costs, came to $1.51 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The chipmaker posted revenue of $407.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $363.8 million.
For the current quarter ending in September, Cirrus Logic said it expects revenue in the range of $510 million to $570 million.
_____
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
/A%20concept%20image%20of%20space_%20Image%20by%20Canities%20via%20Shutterstock_.jpg)
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/Oracle%20Corp_%20logo%20on%20phone%20and%20stock%20data-by%20Rokas%20Tenys%20via%20Shutterstock.jpg)