Cypress Semi Earnings: These Results Have Investors Bidding

Cypress Semiconductor Corporation (NASDAQ:CY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.29%.

Cypress Semiconductor Corporation Earnings Cheat Sheet

Results: Net income decreased -75.29% to $7.97 million (5 cents per diluted share) in the quarter versus a net gain of $32.26 million in the year-earlier quarter.

Revenue: Decreased 25.61% to $180.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cypress Semiconductor Corporation reported adjusted net income of 5 cents per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $178.08 million…