Cirrus Logic (Nasdaq: CRUS) reported earnings on Oct. 31. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 29 (Q2), Cirrus Logic beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share increased significantly.

Gross margins dropped, operating margins increased, net margins increased.

Revenue details
Cirrus Logic recorded revenue of $193.8 million. The eight analysts polled by S&P Capital IQ expected sales of $180.7 million on the same basis. GAAP reported sales were 91% higher than the prior-year quarter's $101.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.79. The seven earnings estimates compiled by S&P Capital IQ predicted $0.71 per share. GAAP EPS of $0.51 for Q2 were 200% higher than the prior-year quarter's $0.17 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 51.7%, 180 basis points worse than the prior-year quarter. Operating margin was 26.0%, 840 basis points better than the prior-year quarter. Net margin was 18.3%, 720 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $230.3 million. On the bottom line, the average EPS estimate is $1.10.

Next year's average estimate for revenue is $711.0 million. The average EPS estimate is $2.86.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 674 members out of 702 rating the stock outperform, and 28 members rating it underperform. Among 101 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 94 give Cirrus Logic a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cirrus Logic is buy, with an average price target of $52.14.

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