Cypress Semi beats by $0.05, beats on revs; guides Q3 EPS above consensus, revs above consensus
Reports Q2 (Jun) earnings of $0.21 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.16; revenues rose 11.6% year/year to $593.8 mln vs the $546.82 mln Capital IQ Consensus.
Co issues upside guidance for Q3, sees EPS of $0.21-0.25 vs. $0.21 Capital IQ Consensus Estimate; sees Q3 revs of $585-615 mln vs. $576.12 mln Capital IQ Consensus Estimate.
"We remain laser-focused on driving revenue and earnings growth by investing in high-growth end-markets, expanding gross margins and broadening our customer base."