3 Key Takeaways From Cirrus Logic's Earnings Report
Audio-chip developer Cirrus Logic (NASDAQ: CRUS) reported Q2 2018 earnings on Nov. 2 that beat analyst estimates on the top and bottom lines. While that looks great in isolation, Cirrus' revenue declined year over year, and concerns remain that the company doesn't have a lot of near-term growth drivers outside of Apple's (NASDAQ: AAPL) new iPhone models.
Even as Cirrus continues to get more of its boosted amps and smart codecs into Android-based smartphones, revenue growth is stagnating -- at least temporarily. The company is also hard at work on several larger opportunities. But those will take years to contribute significantly to earnings. Thus, Apple remains the primary driver of Cirrus' results and will probably remain so for a while.
Source: Fool.com
Cirrus Logic Inc. Stock
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