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Mar 28, 2020
Qorvo Q4 2020 Earnings Report
Qorvo reported strong results under challenging circumstances, team focused on employee health, customer support, and technology advancement.
Key Takeaways
Qorvo's Q4 2020 revenue was $788 million, with a GAAP EPS of $0.43 and a non-GAAP EPS of $1.57. The company is operating well, focusing on keeping employees, partners and communities healthy, while supporting customers and advancing technology.
Enabled sub-6 GHz 5G network deployments with the ramp of GaN power amplifiers and small signal solutions
Accelerated Wi-Fi 6 shipments and secured cable amplifier design wins to support increased data to the home
Enjoyed growth in data centers, computing and gaming consoles with differentiated programmable power management solutions
Completed the acquisition of Custom MMIC, expanding leadership in GaAs and GaN RF solutions for defense and aerospace applications
Forward Guidance
Qorvo expects quarterly revenue between $710 million and $750 million, a non-GAAP gross margin of approximately 47.5%, and non-GAAP diluted earnings per share of $1.13 at the midpoint of guidance for the June 2020 quarter.
Positive Outlook
- Continued growth in 5G handsets
- Continued growth in 5G infrastructure
Challenges Ahead
- Ongoing demand effects of COVID-19
- Ongoing supply effects of COVID-19
Historical Earnings Impact
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Avg. Return Before/After Earnings
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