Cirrus Logic (CRUS) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 26, 2026 and Cirrus Logic published the results on November 4, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Cirrus Logic reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Cirrus Logic's fiscal year ends in late March. Q2 fiscal 2027 ended September 26, 2026; the year-ago quarter ended September 27, 2025.
• Cirrus Logic puts its full results and commentary in a shareholder letter (Exhibit 99.2) published alongside a short release.

Source: Cirrus Logic Q2 fiscal 2027 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.

How Cirrus Logic splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Cirrus Logic's Audio revenue was $315 million in Q2 fiscal 2027, down 1% from $318 million in Q2 fiscal 2026, 56% of total revenue.
• Cirrus Logic's High-Performance Mixed-Signal revenue was $245 million in Q2 fiscal 2027, up 1% from $243 million in Q2 fiscal 2026, 44% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first three quotes are from the release; the tax rate estimate is from Cirrus Logic's shareholder letter, filed as Exhibit 99.2 with the same 8-K.

In its Q2 fiscal 2027 release, Cirrus Logic said:

“Revenue is expected to range between $510 million and $570 million”

“GAAP gross margin is forecasted to be between 51 percent and 53 percent”

“Combined GAAP R&D and SG&A expenses are anticipated to range between $184 million and $190 million, including approximately $21 million in stock-based compensation expense, $9 million in acquisition-related costs, and $2 million in amortization of acquisition intangibles, resulting in a non-GAAP operating expense range between $152 million and $158 million.”

“We estimate that our FY27 non-GAAP effective tax rate will range from approximately 16 percent to 18 percent.”

Source: Cirrus Logic Q2 FY27 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CRUS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release.

Cirrus Logic's next report is expected around February 2, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 4, 2026

Cirrus Logic reports net sales in two product lines. In Q2 fiscal 2027 Audio brought in $314.5 million of $559.5 million and High-Performance Mixed-Signal (HPMS) $245.0 million, 56 percent and 44 percent of revenue. Revenue was flat year over year and up 22 percent from $459.7 million in Q1 fiscal 2027. (Cirrus Logic Q2 FY27 release, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

Apple Inc. is nearly all of Cirrus Logic's business. Buying through multiple contract manufacturers, it represented approximately 93 percent of net sales in the quarter, against 90 percent a year earlier, and the ten largest end customers approximately 97 percent. Cirrus Logic does not discuss specifics of that customer's business. (Cirrus Logic Form 10-Q, Q2 FY27, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

Cirrus Logic said revenue was flat from a year earlier because higher smartphone unit volumes and more content per smartphone were offset by lower general market sales and previously anticipated pricing reductions. Its newest custom boosted amplifier and 22-nanometer smart codec were in newly launched smartphones, and its third-generation camera controller reached a higher attach rate. (Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

By ship-to location, which reflects where contract manufacturers build devices, China accounted for $329.5 million of net sales, India $80.3 million, Vietnam $70.9 million and Hong Kong $40.5 million. United States shipments were $4.2 million, and international sales were approximately 99 percent of net sales. (Cirrus Logic Form 10-Q, Q2 FY27, Nov 4, 2026)

Cirrus Logic's GAAP diluted EPS was $2.23 in Q2 fiscal 2027 and non-GAAP EPS $2.70, against $2.48 and $2.83 a year earlier. Non-GAAP EPS excludes stock-based compensation ($0.36 a share), acquisition-related costs ($0.13) and amortization of acquisition intangibles ($0.03), less a $0.05 tax adjustment. The acquisition costs, $6.9 million, relate to INVENTVM, an Italian fabless chip company Cirrus Logic bought on October 6, 2026. (Cirrus Logic Q2 FY27 release, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026; Cirrus Logic Form 10-Q, Q2 FY27, Nov 4, 2026)

GAAP gross margin rose to 53.7 percent from 52.5 percent on favorable product mix, lower inventory reserves and a temporary benefit from wafers bought under prior agreements with GlobalFoundries. Operating expenses rose to $168.2 million from $149.6 million, and the GAAP effective tax rate was 19.2 percent against 14.2 percent. (Cirrus Logic Q2 FY27 release, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

Buybacks lowered the share count: diluted weighted average shares were 51,481 thousand against 53,054 thousand a year earlier. Cirrus Logic repurchased 991,983 shares at an average price of $126.51, or $125.5 million, in the quarter, and in October 2026 its board authorized up to an additional $500 million. (Cirrus Logic Q2 FY27 release, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Cirrus Logic gives a one-quarter outlook in each release. For Q3 fiscal 2027, the December quarter, it expects revenue of $510 million to $570 million, which it said is down three percent sequentially and down seven percent year over year at the midpoint, GAAP gross margin of 51 percent to 53 percent, and combined GAAP R&D and SG&A expenses of $184 million to $190 million. (Cirrus Logic Q2 FY27 release, Nov 4, 2026; Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

Cirrus Logic's shareholder letter says memory and other component shortages are cutting PC unit volumes and have delayed some new PC models carrying more of its content. It expects its fourth-generation camera controller, now taped out, to begin production in calendar year 2028. (Cirrus Logic Q2 FY27 shareholder letter, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Cirrus Logic, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Cirrus Logic's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CRUS is on is CRUS a buy or a sell?, what analysts expect next is on the CRUS forecast, and what the company does is on the Cirrus Logic (CRUS) stock page.

Every number on this page can be traced to a document Cirrus Logic published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.