Cypress Semiconductor Earnings: Here’s Why the Stock is Falling 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 down 1.13%.
Cypress Semiconductor Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 75% to $0.03 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 6.68% to $172.73 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cypress Semiconductor Corporation reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $0.01. It beat the average revenue estimate of $167.34 million.
Quoting Management: “Were excited to team with HUAWEI on this outstanding smartphone,” said John Carey, Senior Director of TrueTouch Marketing at Cypress. The Ascend Mate showcases many of the reasons that TrueTouch is the premier touchscreen solution in the industry.
Key Stats (on next page)…