9 September 2020
Qorvo raises quarterly revenue guidance
Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has updated the financial guidance provided on 29 July for its fiscal second-quarter 2021 (to end-September 2020).
During the September quarter, broad-based mobile demand for Qorvo’s 4G and 5G mobile products is exceeding original expectations. The firm has hence increased its guidance for revenue from $925-955m to $1-1.03bn.
While non-GAAP gross margin is still expected to be about 50%, the guidance for diluted earnings per share has been increased from $1.90 to $2.14.
Qorvo will announce its results for fiscal Q2/2021 on or about 4 November.
Qorvo’s COVID-19-impacted June quarter aided by 5G adoption