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Jan 02, 2021
Qorvo Q3 2021 Earnings Report
Qorvo delivered an exceptional quarter driven by 5G, Wi-Fi 6 and 6E deployment, and emerging technologies.
Key Takeaways
Qorvo announced financial results for the Company’s fiscal 2021 third quarter, ended January 2, 2021. On a GAAP basis, revenue for the quarter was $1.1 billion, gross margin was 49.1%, operating income was $299 million and diluted earnings per share was $1.74. On a non-GAAP basis, gross margin was 54.4%, operating income was $401 million and diluted earnings per share was $3.08.
Expanded shipments of complete main path solutions (LB, MHB and UHB) across leading 5G basebands and secured wins to supply next-generation complete main path solutions in 2021 Android® smartphones
Commenced shipments of first MHB dual-connectivity modules (DCMs) to the leading Android OEM, leveraging Qorvo’s high-performance BAW filtering in the diversity path for receive and transmit
Launched next-generation BAW process increasing bandwidth and reducing insertion loss in UHB and Wi-Fi 6E applications
Selected by the National Institutes of Health (NIH) for its Rapid Acceleration of Diagnostics initiative (RADxSM) to add COVID-19 antigen testing capacity, utilizing Qorvo’s OmniaTM test platform, enabled by Qorvo’s high-frequency BAW
Qorvo
Qorvo
Forward Guidance
Qorvo currently believes the demand environment in its end markets supports the following expectations for the March 2021 quarter: •Quarterly revenue of $1.025 billion to $1.055 billion •Non-GAAP gross margin of 50.5% to 51% •Non-GAAP diluted earnings per share of $2.42 at the midpoint of guidance