Qorvo: Fiscal Q1 Earnings Snapshot

August 3, 2022 GMT

GREENSBORO, N.C. (AP) _ Qorvo Inc. (QRVO) on Wednesday reported fiscal first-quarter earnings of $68.9 million.

On a per-share basis, the Greensboro, North Carolina-based company said it had profit of 65 cents. Earnings, adjusted for one-time gains and costs, came to $2.25 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The chipmaker posted revenue of $1.04 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.03 billion.

For the current quarter ending in October, Qorvo expects its per-share earnings to range from $2.45 to $2.65.

The company said it expects revenue in the range of $1.12 billion to $1.15 billion for the fiscal second 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