Qorvo Inc reports results for the quarter ended in September 30 - Earnings Summary

Qorvo

30/10/2024 02:52

* Qorvo Inc  QRVO.OQ  reported quarterly adjusted earnings
of
$1.88​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of
$2.39.  The mean expectation of twenty one analysts for the
quarter was for earnings of $1.85 per share. Wall Street
expected results to range from $1.78  to $1.99 per share.
    * Revenue fell 5.2% to $1.05 billion from a year ago;
analysts
expected $1.03 billion. 
    * Qorvo Inc's reported EPS for the quarter was a loss of 18
cents​.
    * The company reported a quarterly loss of $17.44 million.
    * Qorvo Inc shares had fallen by 2.9% this quarter and
lost 11.0%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 7 "strong buy" or "buy," 18
"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
118.00 
This summary was machine generated from LSEG data October 30 at
02:52 a.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
 Sep. 30 2024      1.85           1.88           Beat
 Jun. 30 2024      0.71           0.87           Beat
 Mar. 31 2024      1.21           1.39           Beat
 Dec. 31 2023      1.66           2.10           Beat