UPDATE: Qorvo (QRVO) Tops Q3 EPS by 9c, Q4 Guidance Falls Short
Qorvo (NASDAQ: QRVO) reported Q3 EPS of $1.35, $0.09 better than the analyst estimate of $1.26. Revenue for the quarter came in at $825.4 million versus the consensus estimate of $821.3 million.
Financial Outlook
Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter:
- Quarterly revenue in the range of $610 million to $650 million
- Gross margin of approximately 46%
- A tax rate of approximately 8% Diluted EPS in the range of $0.70 to $0.90
(Street sees Q4 EPS of $1.03 on revenue of $718.1M)