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Dec 28, 2019
Qorvo Q3 2020 Earnings Report
Qorvo delivered an exceptional December quarter with accelerating 5G design wins in Mobile Products and robust design win momentum in IDP.
Key Takeaways
Qorvo announced financial results for the fiscal 2020 third quarter. Revenue was $869 million, with a GAAP diluted earnings per share of $1.36 and a non-GAAP diluted earnings per share of $1.86. The company is acquiring Decawave and Custom MMIC to expand its technology portfolio and product offerings.
Awarded broad-based design wins to supply highly integrated 4G/5G low-, mid-/high-, and ultra-high band solutions for second-generation 5G smartphones
Chosen to supply ultra-high band FEMs on multiple 5G cellular chipsets, leveraging performance advantages at higher frequencies and enabling next wave of 5G smartphones
Secured new 4G and 5G design wins and extended leadership in BAW-based multiplexers, including hexaplexers and recently launched micro BAW-based quadplexer
Expanded GaN customer engagements with ramp of high-power amplifiers at a third major OEM to support 5G massive MIMO deployments
Qorvo
Qorvo
Forward Guidance
Qorvo expects for the March 2020 quarter revenue in the range of $800 million to $840 million, Non-GAAP gross margin of approximately 48.5%, and Non-GAAP diluted earnings per share of $1.55 at the midpoint of guidance
Positive Outlook
- 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