GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported a loss of $17.4 million in its fiscal second quarter.
The Greensboro, North Carolina-based company said it had a loss of 18 cents per share. Earnings, adjusted for asset impairment costs and stock option expense, were $1.88 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The chipmaker posted revenue of $1.05 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.03 billion.
For the current quarter ending in December, Qorvo expects its per-share earnings to range from $1.10 to $1.30.
The company said it expects revenue in the range of $875 million to $925 million for the fiscal third quarter.
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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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