Qorvo: Overview of Fiscal Third Quarter Results

Qorvo Inc. Exceeds Earnings and Revenue Expectations in Fiscal Q3

Qorvo Inc., headquartered in Greensboro, North Carolina, announced on Tuesday that it achieved net income of $164.1 million for its fiscal third quarter.

The company reported earnings of $1.75 per share, with adjusted earnings—excluding certain one-time items—reaching $2.17 per share.

These results outperformed analyst projections, as the consensus from eight analysts polled by Zacks Investment Research had anticipated earnings of $1.87 per share.

Qorvo, a semiconductor manufacturer, also reported quarterly revenue of $993 million, surpassing the $991.3 million estimate from seven Zacks analysts.

Outlook for the Next Quarter

Looking ahead to the quarter ending in March, Qorvo forecasts earnings per share between $1.05 and $1.35.

The company also projects revenue for its fiscal fourth quarter to fall within the $775 million to $825 million range.