Cirrus Logic's Profit Surges, but Outlook Calls for Sales Drop

Cirrus Logic's Profit Surges, but Outlook Calls for Sales Drop

Audio-chip developer Cirrus Logic (NASDAQ: CRUS) reported its fiscal first-quarter results after the market closed on August 2. Solid double-digit revenue growth drove a surge in the bottom line, but the company's guidance calls for a year-over-year revenue decline during the second quarter.

Cirrus will benefit from the impending launch of new iPhones, but the company's outlook leaves a lot to be desired. Here's what investors need to know about Cirrus' first-quarter report.

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Source: Fool.com