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Dec 24, 2022
Cirrus Logic Q3 2023 Earnings Report
Cirrus Logic delivered record revenue driven by smartphone sales.
Key Takeaways
Cirrus Logic reported record revenue of $590.6 million in the December quarter, driven by strong demand for smartphones. The company is focused on leveraging its intellectual property into new applications and markets, including sensing, charging, and power.
Record revenue was achieved due to high smartphone demand.
Customer engagement across the product portfolio remained strong.
The next-generation 22-nanometer smart codec was taped out.
Excellent progress was made on numerous other audio and high-performance mixed-signal products.
Forward Guidance
Revenue is expected to range between $340 million and $400 million; GAAP gross margin is forecasted to be between 49 percent and 51 percent; and Combined GAAP R&D and SG&A expenses are anticipated to range between $153 million and $159 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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