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Qorvo: Fiscal Q3 Earnings Snapshot

GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported fiscal third-quarter earnings of $164.1 million.

The Greensboro, North Carolina-based company said it had profit of $1.75 per share. Earnings, adjusted for one-time gains and costs, came to $2.17 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

The chipmaker posted revenue of $993 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $991.3 million.

For the current quarter ending in March, Qorvo expects its per-share earnings to range from $1.05 to $1.35.

The company said it expects revenue in the range of $775 million to $825 million for the fiscal fourth 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

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updated by pwenzel 3:13pm
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