Qorvo Raises Q2 Revenue Guidance Due to Exceeding Demand for its 4G and 5G Mobile Products

Qorvo has updated its financial guidance provided for the fiscal 2021 second quarter. During the September quarter, broad-based mobile demand for Qorvo’s advanced 4G and 5G mobile products is exceeding the company’s original expectations.

Qorvo has provided revised non-GAAP expectations for revenue, gross margin and diluted earnings per share for the company’s fiscal 2021 second quarter, along with the prior guidance, in the table below.


UPDATEDPRIOR
REVENUERange of $1 billion to $1.03 billionRange of $925 million to $955 million
GROSS MARGINApproximately 50%Approximately 50%
DILUTED EARNINGS PER SHARE GUIDANCE$2.14 at the midpoint of guidance$1.90 at the midpoint of guidance

Qorvo also announced that it will also be presenting at Citi’s 2020 Global Technology Virtual Conference.  A live webcast of the virtual event will be available on the company's web site at the Qorvo website (under Investors). Qorvo plans to announce financial results for its fiscal 2021 second quarter on or about November 4, 2020. The company's actual quarterly results may differ from the expectations and projections shown above, and such differences may be material.

Qorvo

  • Country: United States
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