Qorvo beats by $0.40, beats on revs; guides MarQ EPS above consensus, revs in-line
4:03 PM ET 1/28/25 | Briefing.com
Reports Q3 (Dec) earnings of $1.61 per share, excluding non-recurring items, $0.40 better than the FactSet Consensus of $1.21; revenues fell 14.7% year/year to $916.32 mln vs the $902.6 mln FactSet Consensus. Co issues guidance for Q4 (Mar), sees EPS of $0.90-1.10, excluding non-recurring items, vs. $0.87 FactSet Consensus; sees Q4 revs of $825-875 mln vs. $842.83 mln FactSet Consensus."During the December quarter, we continued to successfully support our largest customer, who represented approximately 50% of sales. Within our Android 5G product portfolio, we are narrowing our focus to the higher-value flagship and premium tiers, where customers value Qorvo's differentiated products. In HPA, we had record Defense & Aerospace quarterly revenue and expect continued strength in the March quarter. As we continue to execute on our growth and diversification strategy, we expect HPA and CSG to deliver double-digit growth in fiscal 2025 and next fiscal year." |
