earnings
confidence high
sentiment positive
materiality 0.75
Cirrus Logic reports record Q1 revenue of $393.6M, EPS $0.69 GAAP, $1.12 non-GAAP; new $500M buyback
CIRRUS LOGIC, INC.
2023-Q1 EPS reported
$0.69
revenue$393,639,000
- Revenue $393.6M (record June quarter), above high-end guidance; GAAP EPS $0.69, non-GAAP EPS $1.12.
- GAAP gross margin 51.5%; Q2 FY23 guidance: revenue $450M-$490M, gross margin 49%-51%.
- Board authorized $500M additional share repurchase; $136.1M remains from prior authorization.
- Smartphone component shipments into flagship devices drove upside.