— Cypress Semiconductor (NASDAQ: CY) reported third-quarter 2019 adjusted earnings of $0.30 per share, down from $0.40 last year. The bottom line came in line with the analysts’ expectations.
— Revenues declined by 9% to $574.5 million versus $571.78 million expected. This was hurt by the divestiture of its NAND business, which was completed on April 1, 2019.
— The Microcontroller and Connectivity Division saw a 0.6% year-over-year decline in revenue on the industry headwinds, as well as the US-China trade tensions. The smaller Memory Products Division, meanwhile, fell 36.9%.
— As announced in June, Infineon Technologies AG agreed to buy Cypress for $23.85 per share in cash, corresponding to an enterprise value of about $10 billion. On October 16, the European Commission cleared the deal without any conditions.
— Due to the pending transaction, Cypress will not hold an earnings conference call and has suspended the practice of providing forward-looking guidance.
Most Popular
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
Comments