Qorvo (QRVO) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Qorvo (QRVO) reported revenue of $1.07 billion, up 44.5% over the same period last year. EPS came in at $2.10, compared to $0.75 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1 billion, representing a surprise of +6.98%. The company delivered an EPS surprise of +27.27%, with the consensus EPS estimate being $1.65.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Qorvo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- HPA: $118.90 million compared to the $142.17 million average estimate based on four analysts.
Revenue- ACG: $846.10 million compared to the $754.06 million average estimate based on four analysts.
Revenue- CSG: $108.90 million compared to the $107.80 million average estimate based on four analysts.
View all Key Company Metrics for Qorvo here>>>
Shares of Qorvo have returned -7.9% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Qorvo, Inc. (QRVO) : Free Stock Analysis Report
