NASDAQ$CRUS
Cirrus Logic Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Cirrus Logic delivered record revenue due to component shipments into smartphones exceeding expectations and strong demand for flagship devices.
Cirrus Logic reported record revenue for the June quarter, driven by component shipments into smartphones exceeding expectations and continued strong demand for flagship devices. The company announced a $500 million share repurchase program.
- Record revenue was delivered for the June quarter.
- Component shipments into smartphones exceeded expectations.
- Strong demand was experienced for flagship devices.
- A $500 million share repurchase program was announced.
Headline financials
Revenue & EPS history
Cirrus Logic · Revenue · Quarterly
$394M
Revenue by segment
Cirrus Logic · $2B total across 2 segments · Q4 2026
- Audio Products$1.16B—58.1%
- HPMS Products$837M—41.9%
Forward guidance
Revenue is expected to range between $450 million and $490 million. GAAP gross margin is forecasted to be between 49 percent and 51 percent. Combined GAAP R&D and SG&A expenses are anticipated to range between $154 million and $160 million, including approximately $20 million in stock-based compensation expense, $8 million in amortization of acquired intangibles, and $3 million in acquisition-related costs.
Tailwinds
- Revenue is expected to range between $450 million and $490 million.
- GAAP gross margin is forecasted to be between 49 percent and 51 percent.
Headwinds
- Combined GAAP R&D and SG&A expenses are anticipated to range between $154 million and $160 million.
- Includes approximately $20 million in stock-based compensation expense.
- Includes $8 million in amortization of acquired intangibles.
- Includes $3 million in acquisition-related costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+1.4%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+3.0%
Avg return
30 days after
51%
33 / 65 earnings
Positive
+27.0%
Q1 2013
Best reaction
-14.6%
Q2 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -1.7% | +6.2% | +2.7% | |
| Q3 2026 | +8.3% | +12.1% | +4.6% | |
| Q2 2026 | -7.8% | -8.4% | -4.5% | |
| Q1 2026 | -7.4% | -0.4% | +10.2% | |
| Q4 2025 | +2.6% | +1.2% | +3.0% | |
| Q3 2025 | +7.8% | +3.0% | +7.4% | |
| Q2 2025 | -6.8% | -6.0% | -6.0% | |
| Q1 2025 | +9.9% | +17.7% | +22.5% | |
| Q4 2024 | +13.6% | +17.9% | +32.0% | |
| Q3 2024 | +14.2% | +18.2% | +19.8% | |
| Q2 2024 | +3.9% | +6.8% | +12.1% | |
| Q1 2024 | +2.9% | +3.3% | +3.3% | |
| Q4 2023 | -6.4% | -9.1% | -6.3% | |
| Q3 2023 | +9.8% | +14.4% | +11.3% | |
| Q2 2023 | +5.6% | +1.6% | +11.9% | |
| Q1 2023 | +5.6% | +2.4% | -11.6% | |
| Q4 2022 | +5.6% | +0.8% | +7.4% | |
| Q3 2022 | -2.7% | -3.0% | +3.2% | |
| Q2 2022 | +1.4% | -2.4% | +0.0% | |
| Q1 2022 | -1.5% | -4.4% | +1.8% | |
| Q4 2021 | -13.6% | -12.7% | -9.3% | |
| Q3 2021 | -4.0% | -8.9% | -16.7% | |
| Q2 2021 | +0.6% | +7.3% | +17.2% | |
| Q1 2021 | -0.1% | -5.7% | -8.2% | |
| Q4 2020 | +2.7% | +7.7% | +1.7% | |
| Q3 2020 | +0.5% | -7.4% | -17.6% | |
| Q2 2020 | +17.1% | +17.2% | +23.6% | |
| Q1 2020 | +15.7% | +5.8% | +8.8% | |
| Q4 2019 | +3.6% | +4.5% | -21.5% | |
| Q3 2019 | -1.1% | +0.1% | +9.3% | |
| Q2 2019 | +10.8% | +11.0% | +0.0% | |
| Q1 2019 | -7.2% | -1.2% | +1.6% | |
| Q4 2018 | -0.4% | +2.0% | -3.8% | |
| Q3 2018 | -7.2% | -9.3% | -6.4% | |
| Q2 2018 | +1.3% | +2.0% | -4.6% | |
| Q1 2018 | -6.5% | -8.8% | -6.7% | |
| Q4 2017 | -0.3% | -2.6% | +4.4% | |
| Q3 2017 | -8.8% | -8.0% | -11.1% | |
| Q2 2017 | +5.1% | +6.7% | +9.2% | |
| Q1 2017 | +22.3% | +21.4% | +26.0% | |
| Q4 2016 | +12.4% | — | — | |
| Q3 2016 | +15.9% | — | — | |
| Q2 2016 | +3.3% | — | — | |
| Q1 2016 | +10.6% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -12.7% | — | — | |
| Q1 2015 | -2.3% | — | — | |
| Q4 2014 | +12.5% | — | — | |
| Q3 2014 | -11.9% | — | — | |
| Q2 2014 | -14.6% | — | — | |
| Q1 2014 | -8.7% | — | — | |
| Q4 2013 | -6.3% | — | — | |
| Q3 2013 | -1.8% | — | — | |
| Q2 2013 | -9.1% | — | — | |
| Q1 2013 | +27.0% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q4 2012 | -2.3% | — | — | |
| Q4 2011 | -2.3% | — | — | |
| Q3 2012 | -8.1% | — | — | |
| Q2 2011 | +2.4% | — | — | |
| Q2 2012 | +2.4% | — | — | |
| Q3 2011 | -2.2% | — | — | |
| Q1 2012 | -2.2% | — | — | |
| Q1 2011 | -2.2% | — | — |
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