Qorvo (QRVO) Tops Q3 EPS by 18c; Guides Q4 Higher

Qorvo (NASDAQ: QRVO) reported Q3 EPS of $1.86, $0.18 better than the analyst estimate of $1.68. Revenue for the quarter came in at $869 million versus the consensus estimate of $852.04 million.

Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo delivered an exceptional December quarter. In Mobile Products, 5G design wins are accelerating, and in IDP we are enjoying robust design win momentum. We’re also looking forward to welcoming two industry-leading teams, Decawave and Custom MMIC, to the Qorvo family, expanding our technology portfolio and product offerings.”

GUIDANCE:

Qorvo sees Q4 2020 EPS of $1.55-$1.15. Qorvo sees Q4 2020 revenue of $800-840 million, versus the consensus of $727.8 million.

For earnings history and earnings-related data on Qorvo (QRVO) click here.

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