Qorvo Inc reports results for the quarter ended December 31 - Earnings Summary

• Qorvo Inc QRVO.OQ reported quarterly adjusted earnings of $1.61​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $2.10. The mean expectation of twenty three analysts for the quarter was for earnings of $1.20 per share. Wall Street expected results to range from $1.09 to $1.30 per share.

• Revenue fell 14.7% to $916.32 million from a year ago; analysts expected $901.52 million.

• Qorvo Inc's reported EPS for the quarter was 43 cents​.

• The company reported quarterly net income of $41.27 million.

• Qorvo Inc shares had risen by 25.3% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 30.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy," 20 "hold" and 3 "sell" or "strong sell."

• The average consensus recommendation for the semiconductors peer group is also "hold"

Wall Street's median 12-month price target for Qorvo Inc is $90.00

This summary was machine generated from LSEG data January 28 at 10:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)