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Dec 31, 2022
Qorvo Q3 2023 Earnings Report
Qorvo navigated a challenging environment, introducing products and technologies, and securing design wins and quality awards.
Key Takeaways
Qorvo's Q3 2023 revenue was $743 million. The company reported a GAAP loss per share of $0.16 and a non-GAAP diluted earnings per share of $0.75. Channel inventories declined during the quarter, and further declines are expected in the next quarter.
Began sampling integrated solution combining high voltage power conversion PMIC with SiC power switches to control GaN RF high power amplifier.
Expanded SHIP (state-of-the-art heterogenous integrated packaging) government contract to develop multichip modules combining digital optical devices with Qorvo mixed signal RF.
Delivered multi-chip solution for LEO satellites and other aerospace applications and secured new design wins supporting cellular-to-satellite links.
Commenced pre-production shipments of first integrated PA modules (PAMs) to tier-one European infrastructure OEM for 5G massive-MIMO base stations.
Forward Guidance
Qorvo's current outlook for the March 2023 quarter is: • Quarterly revenue of $600 million to $640 million • Non-GAAP gross margin of approximately 41% • Non-GAAP diluted earnings per share in the range of $0.10 to $0.15
Historical Earnings Impact
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Avg. Return Before/After Earnings
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