GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported fiscal fourth-quarter net income of $29.7 million.
The Greensboro, North Carolina-based company said it had net income of 32 cents per share. Earnings, adjusted for one-time gains and costs, were $1.69 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The chipmaker posted revenue of $808.3 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $799.7 million.
For the year, the company reported profit of $339 million, or $3.62 per share. Revenue was reported as $3.68 billion.
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