Cirrus Logic profit beats estimates
Jan 24 (Reuters) - Apple Inc supplier Cirrus Logic Inc reported a quarterly profit well above analysts' estimates on strong demand for its audio chips.
Net income rose to $67.9 million, or 99 cents per share, in the third quarter from $16.7 million, or 25 cents per share, a year earlier. Excluding items, Cirrus earned $1.64 per share.
Analysts expected an adjusted profit of $1.41 per share, according to Thomson Reuters I/B/E/S.
Cirrus gets about three-quarters of its revenue from Apple.
- Target says data from 40 million cards stolen in November-December
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- As Modi storms into India's election, a quiet alternative emerges
- U.S. prosecutor defends treatment of Indian diplomat |