Why Cirrus Logic Stock Jumped Today
Shares of semiconductor company Cirrus Logic (NASDAQ: CRUS) jumped on Wednesday after the company reported financial results for its fiscal third quarter of 2025. As of 12:30 p.m. ET, Cirrus Logic stock was up 6%.
At the end of the second quarter, Cirrus Logic's management was somewhat unsure what to expect for Q3. It gave Q3 revenue guidance of $480 million to $540 million -- that's a big $60 million gap. But the company did far better than ever the high end of this outlook, with Q3 revenue ultimately coming in at $556 million. Granted, that was down 10% year over year, but it was far better than expected.
Cirrus' largest customer by far is -- its components are used in the company's devices. And Cirrus' management said that its revenue was so good thanks to "strong demand for our smartphone audio components." This demand helped to lift the company's margins, with its Q3 gross margin of 53.6% meaningfully ahead of its gross margin of 51.3% in the prior-year period.
Source Fool.com
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