Qorvo (QRVO) Cites Weaker Than Foretasted Mobile Demand in 3Q - Needham & Company Maintains Buy
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Qorvo® Revises Revenue Guidance For Fiscal 2016 Third Quarter
January 7, 2016 4:01 PM ESTGREENSBORO, N.C. and HILLSBORO, Ore., Jan. 07, 2016 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, today announced it expects revenue and earnings for its fiscal 2016 third quarter will be lower than it previously estimated on November 5, 2015.Â
Qorvo currently expects its December quarterly revenue will be approximately $620 million, versus its original guidance of $720-$730 million provided November 5, 2015 in its second quarter earnings report. The revenue decline is the result of weaker than forecasted customer demand in the Companys... More
