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AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal second-quarter net income of $87.2 million.
On a per-share basis, the Austin, Texas-based company said it had net income of $1.52. Earnings, adjusted for one-time gains and costs, came to $1.99 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The chipmaker posted revenue of $540.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $470.7 million.
For the current quarter ending in December, Cirrus Logic said it expects revenue in the range of $520 million to $580 million. Analysts surveyed by Zacks had expected revenue of $555.6 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CRUS">Zacks stock report on CRUS at https://www.zacks.com/ap/CRUS