Jan 24 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.