Qorvo: Fiscal Q4 Earnings Snapshot

GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Wednesday reported fiscal fourth-quarter net income of $2.7 million.

On a per-share basis, the Greensboro, North Carolina-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were $1.39 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The chipmaker posted revenue of $941 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $925.4 million.

For the year, the company reported a loss of $70.3 million, or 72 cents per share. Revenue was reported as $3.77 billion.

For the current quarter ending in June, Qorvo expects its per-share earnings to range from 60 cents to 80 cents.

The company said it expects revenue in the range of $825 million to $875 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

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