Cypress Semiconductor Earnings: Here’s Why Shares are Up Now
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 4.57%.
Cypress Semiconductor Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 22.22% to $0.14 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Decreased 3.87% to $193.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cypress Semiconductor Corporation reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $182.91 million.
Quoting Management: “Cypress performed well in the second quarter, posting revenue of $193.5 million—up 12.0% from the first quarter, exceeding our guidance. Our revenue growth was driven by broad strength across all business units, combined with particularly strong performance by our TrueTouch® BU.” Said president and CEO, T.J. Rodgers.
Key Stats (on next page)…