Operator: Good day, and welcome to Qorvo, Inc. Earning Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.
Communications chips maker Qorvo (NASDAQ: QRVO) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 48.7% year on year to $941 million. On the other hand, next quarter's revenue guidance of $850 million was less impressive, coming in 8% below analysts' estimates. It made a non-GAAP profit of $1.39 per share, improving from its profit of $0.26 per share in the same quarter last year.
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Qorvo Inc (NASDAQ:QRVO) shares are trading higher in Wednesday’s after-hours session after the company reported fiscal third-quarter results and announced it will acquire Anokiwave. Q3 Revenue: $1.07 billion beat estimates of $1 billion Q3 EPS: $2.10 beat estimates of $1.66 Revenues were up 44% on a year-over-year basis. Gross margin came in at 36.1% on a GAAP basis and 43.8% on a non-GAAP basis. “Strong execution by the Qorvo team resulted in robust December quarterly financial performance. Dur
Qorvo shares jumped Thursday after the wireless chipmaker issued better-than-expected fourth-quarter earnings and sales guidance amid a recovery in smartphone handsets.