Qorvo, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Qorvo, Inc. (QRVO) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $212.3 million, or $1.95 per share. This compares with $298.7 million, or $2.60 per share, in last year's fourth quarter.

Excluding items, Qorvo, Inc. reported adjusted earnings of $339.6 million or $3.12 per share for the period.

Analysts on average had expected the company to earn $2.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $1.17 billion from $1.07 billion last year.

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

-Earnings (Q4): $212.3 Mln. vs. $298.7 Mln. last year. -EPS (Q4): $1.95 vs. $2.60 last year. -Analyst Estimates: $2.92 -Revenue (Q4): $1.17 Bln vs. $1.07 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $2.00 to $2.25 Next quarter revenue guidance: $1.0 - $1.05 Bln