5G Innovations & Defense Wins Help Qorvo Post Exceptional Fiscal Q3 Results

Qorvo released its financial results for the fiscal 2020 third quarter (Q3), ending December 28, 2019. The company delivered a good December quarter with $869 Million in revenue. In mobile products, 5G design wins are accelerating, and in IDP (Infrastructure & Defense Products), Qorvo is enjoying robust design win momentum. The company is also looking forward to welcoming two industry-leading teams, Decawave and Custom MMIC, to the Qorvo family, thus expanding its technology portfolio and product offerings.

Strategic Highlights:
Financial Outlook

According to Mark Murphy, Chief Financial Officer of Qorvo, the company’s December quarter results and March quarter guidance reflect strength in end markets of 5G, Wi-Fi and Defense and continued strong operating performance. Given the operating results and capital management, the company now forecasts free cash flow for the full fiscal year of over $700 million. Qorvo currently believes the demand environment in its end markets supports the following expectations for the March 2020 quarter:

  • Quarterly revenue in the range of $800 million to $840 million
  • Non-GAAP gross margin of approximately 48.5%
  • Non-GAAP diluted earnings per share of $1.55 at the midpoint of guidance

Qorvo's actual quarterly results may differ from these expectations and projections, and such differences may be material.

Click here for more information on the financial results.


  • Country: United States
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