Qorvo, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Qorvo, Inc. (QRVO) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $216.26 million, or $1.95 per share. This compares with $201.04 million, or $1.74 per share, in last year's third quarter.

Excluding items, Qorvo, Inc. reported adjusted earnings of $330.43 million or $2.98 per share for the period.

Analysts on average had expected the company to earn $2.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $1.11 billion from $1.09 billion last year.

Qorvo, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $216.26 Mln. vs. $201.04 Mln. last year. -EPS (Q3): $1.95 vs. $1.74 last year. -Analyst Estimate: $2.76 -Revenue (Q3): $1.11 Bln vs. $1.09 Bln last year.

-Guidance: Next quarter EPS guidance: $2.94 Next quarter revenue guidance: $1.135 - $1.165 Bln