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Mar 30, 2024
Qorvo Q4 2024 Earnings Report
Qorvo experienced year-over-year revenue growth and exceeded revenue guidance, driven by content gains and defense business growth. The acquisition of Anokiwave was completed.
Key Takeaways
Qorvo announced its fiscal 2024 fourth-quarter results, with revenue reaching $941 million, a 49% year-over-year increase. GAAP EPS was $0.03, while non-GAAP EPS was $1.39. The company completed the acquisition of Anokiwave and anticipates modest revenue growth and margin improvement for fiscal year 2025.
Grew quarterly revenue 49% year-over-year and exceeded the mid-point of revenue guidance by $16 million
Completed acquisition of Anokiwave, a leading supplier of high-performance silicon integrated circuits for intelligent active array antennas for Defense, SATCOM, 5G, and other beam forming applications
Delivered year-over-year revenue growth in the March quarter in each of our three operating segments
Continue to expand our technology portfolio to drive growth and diversify our business across markets, customers and product categories
Qorvo
Qorvo
Qorvo Revenue by Segment
Revenue by Segment
HPA Revenue
CapyFin.comCSG Revenue
CapyFin.comACG Revenue
CapyFin.com Forward Guidance
Qorvo’s current outlook for the June 2024 quarter is: Quarterly revenue of approximately $850 million, plus or minus $25 million • Non-GAAP gross margin between 40% and 41% • Non-GAAP diluted earnings per share between $0.60 and $0.80
Revenue & Expenses
Visualization of income flow from segment revenue to net income