Qorvo Inc reports results for the quarter ended in March - Earnings Summary

Qorvo

01/05/2024 22:49

* Qorvo Inc  QRVO.OQ  reported quarterly adjusted earnings
of
$1.39​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 26
cents.  The mean expectation of twenty two analysts for the
quarter was for earnings of $1.21 per share. Wall Street
expected results to range from $1.17  to $1.43 per share.
    * Revenue rose 48.7% to $940.99 million from a year ago;
analysts
expected $926.25 million. 
    * Qorvo Inc's reported EPS for the quarter was 3 cents​.
    * The company reported quarterly net income of $2.74
million.
    * Qorvo Inc shares had risen by 1.8% this quarter and
gained 3.8%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 15
"hold" and 3 "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "hold"

Wall Street's median 12-month price target for Qorvo Inc is
$116.00 
This summary was machine generated from LSEG data May 1 at 09:49
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.21           1.39           Beat
 Dec. 31 2023      1.66           2.10           Beat
 Sep. 30 2023      1.77           2.39           Beat
 Jun. 30 2023      0.15           0.34           Beat