CSR revenue fall knocks shares

Shares in chipmaker CSR fell more than 10 per cent yesterday as the firm reported first-quarter revenue of $180.8m (£107.5m), down 24 per cent but in line with its own forecast, as it shifted its mix towards products for higher-margin markets like music, audio and cars. Underlying operating profits fell from $19.1m to $11.5m, as legacy revenues fell. CSR said it expects second-quarter revenue to be in the range of $190m to $210m, falling short of some analyst forecasts.

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