Qorvo Inc (QRVO) PT Lowered to $160 at BMO Capital

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Go back to Qorvo Inc (QRVO) PT Lowered to $160 at BMO Capital

Qorvo® Announces Fiscal 2022 Third Quarter Financial Results

February 2, 2022 4:00 PM EST

GREENSBORO, N.C., Feb. 02, 2022 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Companys fiscal 2022 third quarter ended January 1, 2022.

On a GAAP basis, revenue for Qorvos fiscal 2022 third quarter was $1.114 billion, gross margin was 49.2%, operating income was $296 million and diluted earnings per share was $1.95. On a non-GAAP basis, gross margin was 52.6%, operating income was $372 million and diluted earnings per share was $2.98.

Bob Bruggeworth, president and chief executive officer of Qorvo, said, Qorvo outperformed the... More