By Stephen Nakrosis
Shares of Cirrus Logic were higher in the late-trading session after the company reported third-quarter results that topped some analysts' expectations.
After the bell Tuesday, the company's stock was trading 7.8% higher, at $109.30. The stock gained 2.1% in the day's regular session to close at $101.39.
Cirrus reported third-quarter earnings per share of $2.11 on sales of $555.7 million. Analysts were expecting EPS of $1.66 on sales of $510.3 million, according to FactSet.
In the year-ago period, the company reported EPS of $2.50 on sales of $619 million.
John Forsyth, the company's president and chief executive, said the third quarter saw strong demand for smartphone audio components, and added Cirrus gained momentum in its laptop business.
The company said it was expecting fourth-quarter revenue in a range between $350 million and $410 million.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 04, 2025 18:56 ET (23:56 GMT)
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