Qorvo: Fiscal Q4 Earnings Snapshot

GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Wednesday reported a loss of $138.4 million in its fiscal fourth quarter.

The Greensboro, North Carolina-based company said it had a loss of $1.39 per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The chipmaker posted revenue of $632.7 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $621.3 million.

For the year, the company reported profit of $103.2 million, or $1 per share. Revenue was reported as $3.57 billion.

For the current quarter ending in June, Qorvo expects its per-share earnings to be 15 cents.

The company said it expects revenue in the range of $620 million to $660 million for the fiscal first quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QRVO at https://www.zacks.com/ap/QRVO

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up