Cypress (CY) Q3 Earnings Beat on Strong Auto & IoT Growth

Cypress (CY) Q3 Earnings Beat on Strong Auto & IoT Growth

Shutterstock photo Cypress Semiconductor Corp. CY reported third-quarter 2017 earnings per share of 27 cents, which beat the Zacks Consensus Estimate by 4 cents. The company reported non-GAAP revenues of $605 million, which came in line with the Zacks Consensus Estimate. The figure was within the guided range of $585-$615 million and up 1.8% sequentially. The robust top-line growth can primarily be attributed to improvement in automotive, IoT wireless connectivity and USB-C solutions. Driven by growth of these segments, the company has been performing well for quite some time. Following the strong third-quarter earnings release on Oct 26, share […]