Qorvo (QRVO) Tops Q1 EPS by 19c; Guides Above Views

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Qorvo® Announces Fiscal 2024 First Quarter Financial Results

August 2, 2023 4:00 PM EDT

GREENSBORO, N.C., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced financial results for the Companys fiscal 2024 first quarter ended July 1, 2023.

On a GAAP basis, revenue for Qorvos fiscal 2024 first quarter was $651 million, gross margin was 35.2%, operating loss was $48 million and loss per share was $0.44. On a non-GAAP basis, gross margin was 42.9%, operating income was $47 million and diluted earnings per share was $0.34.

Bob Bruggeworth, president and chief executive officer of Qorvo, said, The Qorvo team continues to operate well... More