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Dec 26, 2020
Cirrus Logic Q3 2021 Earnings Report
Cirrus Logic's revenue exceeded guidance, driven by strong smartphone demand, resulting in year-over-year revenue growth.
Key Takeaways
Cirrus Logic reported Q3 FY21 revenue of $485.8 million, a 30% year-over-year increase, driven by strong demand for products in recently introduced smartphones. The company's GAAP earnings per share was $1.91, and non-GAAP earnings per share was $2.13.
Cirrus Logic delivered revenue above the high end of guidance in the December quarter.
Strong demand for products shipping in recently introduced smartphones fueled revenue growth.
The company is focused on developing a roadmap of innovative products for audio and high-performance mixed-signal solutions.
The Board of Directors authorized the repurchase of up to an additional $350 million of the company's common stock.
Cirrus Logic
Cirrus Logic
Forward Guidance
For the fourth quarter of fiscal year 2021, Cirrus Logic expects revenue to range between $280 million and $320 million.