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Cirrus Q2 Results Top Estimates; Shares Jump

By Yasin Ebrahim

Investing.com - Cirrus Logic reported Tuesday second-quarter results that beat analysts' forecasts, driven by stronger smartphone demand.  

Cirrus Logic (NASDAQ:CRUS) rose more than 6% in afterhours trading following the report. 

The fabless semiconductor supplier reported earnings per share of $1.99 on revenue of $540.6M. Analysts polled by Investing.com anticipated EPS of $1.45 on revenue of $468.38M.

Looking ahead to Q3, the company guided revenue in a range of $520 million to $580 million.

The better-than-expected results were driven by "higher unit volumes and high-performance mixed-signal content gains in smartphones," the company said. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.