Qorvo beats by $0.11, beats on revs; guides Q3 EPS in-line, revs in-line
-1.41%
Reports Q2 (Sep) earnings of $2.22 per share, excluding non-recurring items, $0.11 better than the FactSet Consensus of $2.11; revenues rose 1.1% year/year to $1.06 bln vs the $1.04 bln FactSet Consensus. Co issues in-line guidance for Q3, sees EPS of $1.65-2.05, excluding non-recurring items, vs. $1.82 FactSet Consensus; sees Q3 revs of $935 mln - $1.035 bln vs. $988.44 mln FactSet Consensus."In the September quarter, ACG supported our largest customer's smartphone ramp while continuing to serve Android's premium and flagship tiers. In HPA, we grew our D&A and infrastructure businesses while supporting a recently launched smartwatch with our power management ICs. In CSG, we consolidated our organizational structure to improve profitability and prioritize opportunities in automotive, industrial, enterprise, and other markets. In the December quarter, we expect year-over-year revenue growth and margin expansion, supported by strategic customers in mobile and D&A markets." |
