BofA/Merrill Lynch Downgrades Qorvo Inc (QRVO) to Underperform
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Qorvo® Reports Fiscal 2017 Second Quarter Results
November 3, 2016 4:02 PM EDTGREENSBORO, N.C., Nov. 03, 2016 (GLOBE NEWSWIRE) --
Highlights
On a GAAP basis, fiscal 2017 second quarter revenue was $864.7 million, gross margin was 36.6%, operating income was $45.4 million, and diluted EPS was $0.09On a Non-GAAP basis, fiscal 2017 second quarter revenue was $863.7 million, gross margin was 42.8%, operating income was $196.8 million, and diluted EPS was $1.29Mobile Products (MP) revenue increased 22% year-over-year to $706.1 million, supported by growth in premium-tier and mid-tier 4G LTE mobile devicesMP enjoyed strong demand for BAW-based multiplexer solutions and delivered module prototypes containing BAW-based hexaplexersMP secured multiple... More