Qorvo reported its fiscal fourth quarter bottom-line that exceeded analysts’ expectations.
The radio frequency device chipmaker reported earnings of $1.22 per share for the quarter, compared to analysts’ estimates of $1.05 per share (based on FactSet data).
Revenue of $681 million also surpassed analysts’ estimates of $670.6 million.
For the current quarter, the company predicts earnings of $1.30 per share on revenue between $780 million and $800 million – both of which are higher than analysts’ expectations of $1.05 earnings per share on revenue of $690.1 million.
On May 6, Qorvo announced the completion of its acquisition of power management company Active-Semi International.