$CRUS · CIRRUS LOGIC, INC.
Cirrus Logic's Q2 FY27 (ended Sept 26, 2026) revenue was $559.5M, flat year over year and up 22% sequentially. GAAP EPS was $2.23 and non-GAAP EPS $2.70, with GAAP gross margin of 53.7%. The company also announced a new $500M buyback authorization, with $114.1M remaining from the prior March 2025 program and $18.6M already deployed post-quarter.
- Revenue $559.5M, flat YoY, up 22% sequentially
- GAAP EPS $2.23; non-GAAP EPS $2.70
- GAAP gross margin 53.7%; non-GAAP 53.8%
- New $500M buyback authorization; $114.1M left from prior program
- Q3 FY27 revenue guided to $510M–$570M
Extended-hours trade at $112.50, down 3.01% from the $115.99 regular close, suggesting the flat YoY revenue and softer Q3 guidance outweighed the buyback news.
Flat YoY revenue and a softer Q3 guide temper an otherwise solid beat and a fresh $500M buyback.
Cirrus Logic's flat YoY revenue and sequential Q3 decline contrast with the strong smartphone content growth narrative, reflecting a maturing Apple-centric audio cycle.
Q3 guidance implies a sequential revenue decline and lower gross margin (51%–53% vs 53.7%), plus customer order timing and cancellation risk flagged in the safe harbor.