Qorvo: Fiscal Q2 Earnings Snapshot

Associated Press Finance
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GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Wednesday reported fiscal second-quarter earnings of $97.5 million.

The Greensboro, North Carolina-based company said it had net income of 99 cents per share. Earnings, adjusted for asset impairment costs and stock option expense, came to $2.39 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.

The chipmaker posted revenue of $1.1 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1 billion.

For the current quarter ending in December, Qorvo expects its per-share earnings to be $1.65.

The company said it expects revenue in the range of $750 million to $1.25 billion 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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