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Sep 23, 2023
Cirrus Logic Q2 2024 Earnings Report
Cirrus Logic delivered revenue near the top end of guidance and continued strong engineering execution.
Key Takeaways
Cirrus Logic reported fiscal second quarter revenue of $481.1 million. The company continues its strong track record of engineering execution, ramping shipments of its new camera controller and passing key milestones in the development of the next-generation components.
Revenue of $481.1 million
GAAP and non-GAAP gross margin of 51.3 percent
GAAP operating expenses of $140.8 million and non-GAAP operating expenses of $114.4 million
GAAP earnings per share of $1.34 and non-GAAP earnings per share of $1.80
Forward Guidance
Revenue is expected to range between $510 million and $570 million. GAAP gross margin is expected to be between 49 percent and 51 percent. Combined GAAP R&D and SG&A expenses are anticipated to range between $145 million and $151 million, including approximately $23 million in stock-based compensation expense and $2 million in amortization of acquisition intangibles, resulting in a non-GAAP operating expense range between $120 million and $126 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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