Cypress Semiconductor (NASDAQ: CY) reported a 1.3% decline in second-quarter revenues to $532.2 million, hurt by the weakness in the automotive industry. The top-line was, meanwhile, slightly better than the analysts’ projection of $530.89 million.
The Microcontroller and Connectivity Division saw its revenues slide 3.9% year-over-year on the industry headwinds, as well as the US-China trade tensions. The smaller Memory Products Division, meanwhile, declined 30.4%.
Earnings fell to $0.25 per share from $0.33 per share a year ago. The street projection for Q2 earnings was pegged at $0.24 per share.
CY shares were modestly up 0.18% following the announcement of the results. The stock is up 83% in the year-to-date period, thanks to its acquisition by German rival Infineon Technologies
Last month, the San Jose, California-based firm said it would be acquired by semiconductor solutions firm Infineon Technologies for an enterprise value of €9 billion. The deal, which represented a 46% premium to Cypress’s then trading price, was well received by the street.
The transaction would be closed sometime later this year or early next year, meaning this could be the penultimate or final quarterly results.
Due to the acquisition, Cypress said it will not hold an earnings conference call and has suspended the practice of providing forward-looking guidance.
On Tuesday, rival Texas Instruments (NASDAQ: TXN) also reported a 9% decline in revenue and 7% fall in earnings in the second quarter, hurt by the weakness in the automotive industry.
Most Popular
Important takeaways from Conagra Brands’ Q3 2025 report
Conagra Brands, Inc. (NYSE: CAG) has reported weaker-than-expected revenue and profit for the February quarter, with sales declining across all business segments amid softer demand and persistent supply challenges. The
Main takeaways from Lamb Weston’s (LW) Q3 2025 earnings report
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) jumped 9% on Thursday after the company delivered better-than-expected results for the third quarter of 2025 and reaffirmed its outlook for the
Summary: Tesla (TSLA) reports Q1 2025 production, deliveries
Tesla Inc. (NASDAQ: TSLA) has announced results of vehicle production and deliveries for the first quarter of 2025. The company also provided data on the deployment of energy storage products
Comments
Comments are closed.