earnings
confidence high
sentiment positive
materiality 0.80
Qorvo Q2 FY2024 revenue $1.103B (+70% seq); non-GAAP EPS $2.39 beats; guides Dec Q revenue ~$1B
Qorvo, Inc.
2024-Q2 EPS reported
$0.54
revenue$1,754,657,000
- Revenue $1.103B, up 70% sequentially, exceeded guidance midpoint by $103M; GAAP EPS $0.99, non-GAAP EPS $2.39.
- Sequential growth in ACG, CSG, HPA; major UWB design wins in flagship Android smartphone and German auto tier-one.
- December quarter guidance: revenue ~$1B ±$25M, non-GAAP gross margin 43-44%, non-GAAP diluted EPS ~$1.65.
- Expects YoY revenue growth in FY2024; reduced Qorvo inventory, improved Android channel inventory.