Cirrus Logic Inc. (CRUS)) beat Wall Street’s expectations on a 49% increase in revenue, sending estimates higher.
Beat the Street
On Jan 28 Cirrus reported quarterly results that included $65.2 billion in revenue, up 49%. Earnings per shares came in at 17 cents, a penny better than expected.
The results drove estimate higher. The Zacks Consensus Estimate is 32 cents for fiscal 2010, up 11 cents. Forecasts for next year are averaging 54 cents for this Zacks Rank #2, up from 43 cents.
These estimates project year over year growth of 351% and 70%, respectively.
The Chart
Shares of CRUS popped on a preliminary report in early January, but quickly retreated. However, Cirrus has regained momentum and is in a nice upward trend. Take a look below.
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Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader serviceZacks Investment Research
