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Qorvo, Inc. (QRVO) Goldman Sachs Communacopia + Technology Conference (Transcript)
Sep. 10, 2024 10:55 PM ET Qorvo, Inc. (QRVO) Stock
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Qorvo, Inc. (NASDAQ: QRVO) Goldman Sachs Communacopia + Technology Conference September 10, 2024 7:25 PM ET
Company Participants
Grant Brown - Senior Vice President and Chief Financial Officer
Philip Chesley - Senior Vice President and President of the high performance Analog business
Conference Call Participants
Toshiya Hari - Goldman Sachs
Toshiya Hari
All right, we'd like to get started. Good afternoon, everyone. Thank you so much for coming. My name is Toshiya Hari. I cover the semiconductor space at Goldman Sachs. We're very excited to have the team from Qorvo with us this afternoon. We have Grant Brown in the center, Senior Vice President and CFO. We also have a special guest, Philip Chesley, Senior Vice President and President of the high performance Analog business. Thank you, gentlemen, for joining us.
Grant Brown
Thank you. Appreciate you being here.
Question-and-Answer Session
Q - Toshiya Hari
Really appreciate the time. I have a bunch of questions. I will open Q&A to the audience. So to the extent you do have questions, please be prepared. I wanted to kick off with a couple of near term questions. You reported June quarter results that were above consensus, very strong results. You guided September quarter revenue to grow 16% at the midpoint. Maybe take us back, talk through the key highlights in the June quarter. And what are some of the key drivers that went into your September quarter guide?
Grant Brown
Sure. Again, thanks again for having us this year. But before I start, I just wanted to remind the audience that the Safe Harbor language that applies to our earnings releases and press releases still applies to today's discussion.
In looking at the June quarter, revenue came in above the midpoint of the guide. It was largely due to our ACG or our advanced cellular group, which is in the smartphone market. The strength there was across multiple customers, but the biggest impact attributable to our largest customer. In CSG, we saw a strong pull for our ultra wideband products and some of our Wi-Fi Solutions, including our first ultra wideband win and a mid-tier smartphone and HPA, which Philip can speak to as we get into it. We were down a bit on the timing of some large defense programs. We had a record Q4 last fiscal year, and we expect to do very well in the second half of this year as that grows. But due to that seasonality, we were down.
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