Cypress Semi Earnings: These Results Have Investors Bidding

Cypress Semiconductor Corporation (NASDAQ:CY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.29%.

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Cypress Semiconductor Corporation Earnings Cheat Sheet

Results: Net income decreased -75.29% to $7.97 million (5 cents per diluted share) in the quarter versus a net gain of $32.26 million in the year-earlier quarter.

Revenue: Decreased 25.61% to $180.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cypress Semiconductor Corporation reported adjusted net income of 5 cents per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $178.08 million…

Key Stats:

Revenue decreased 11.19% from $203.02 million in the previous quarter. Net income decreased 44.38% from $14.33 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.13 to a profit $0.04. For the current year, the average estimate has moved down from a profit of $0.65 to a profit of $0.54 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)