Below are the earnings highlights for Qorvo, Inc. (QRVO):
- Reported Net Income: Qorvo recorded a net income of $41.3 million in the third quarter, a significant improvement from a net loss of $126.9 million during the same period last year.
- Earnings Per Share (EPS): The earnings per share were $0.43 for the third quarter, compared to a loss of $1.31 per share in the previous year. Excluding specific items, Qorvo's adjusted earnings stood at $152.8 million or $1.61 per share during this period.
- Analyst Expectations: Analysts had projected the earnings per share to be $1.21.
- Revenue: The company's revenue amounted to $916.3 million in the third quarter, which is a decrease from the $1,073.9 million recorded in the same period of the previous year.
Guidance for the Next Quarter:
- EPS Forecast: The company anticipates earnings per share in the range of $0.90 to $1.10.
- Revenue Forecast: Expected revenue is projected to be between $825 million and $875 million.
