Qorvo Shares Gain 5% on Strong Q3 Results & Outlook
Qorvo Shares Gain 5% on Strong Q3 Results & Outlook

Qorvo Shares Gain 5% on Strong Q3 Results & Outlook

Feb. 1, 2024, 9:03 a.m., readers: 21

Qorvo (NASDAQ:QRVO) saw its shares climb by nearly 5% pre-market today after announcing third-quarter earnings and revenue that exceeded expectations. For the third quarter, the semiconductor solutions company reported earnings per share (EPS) of $2.10, surpassing the consensus estimates of $1.66. The company achieved revenue of $1.07 billion, exceeding the $1 billion anticipated by analysts. Looking to the future, Qorvo anticipates a fourth-quarter EPS of approximately $1.20, which is ahead of the $1.15 estimated by Wall Street. The company also expects revenue for the quarter to be around $925 million, surpassing the analyst projection of $914.1 million. Additionally, Qorvo announced its intention to acquire Anokiwave, a provider of high-performance silicon integrated circuits (ICs). The deal is expected to be finalized during the March quarter.


About NASDAQ: QRVO

Q orvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices;

Price: 113.25
Market cap: 10.9 billion USD
Eps: -2.08
P/e ratio: -54.45
Terminal Research: QRVO