© Reuters. Qorvo stock gains on Q1 beat & strong guidance
Qorvo (NASDAQ:) shares rose more than 4% after-hours following the company’s reported , with EPS of $0.34 coming in better than the consensus estimate of $0.15. Revenue was $651 million, beating the consensus estimate of $640.25M.
“Looking forward, we expect September quarterly revenue to increase sequentially by over 50%, driven primarily by content gains at our largest customer, and we expect year-over-year revenue growth in fiscal 2024,” said CFO Grant Brown.
Q2/24 EPS is expected to be $1.75, above the consensus estimate of $1.62. Revenue is expected to be approximately $1 billion, plus or minus $15M, compared to the consensus of $959.78M.