UPDATE: Qorvo (QRVO) Tops Q3 EPS by 9c, Q4 Guidance Falls Short

Qorvo (NASDAQ: QRVO) reported Q3 EPS of $1.35, $0.09 better than the analyst estimate of $1.26. Revenue for the quarter came in at $825.4 million versus the consensus estimate of $821.3 million.

Financial Outlook

Qorvo currently believes the demand environment in its end markets supports the following non-GAAP expectations for the March 2017 quarter:

• Quarterly revenue in the range of $610 million to $650 million
• Gross margin of approximately 46%
• A tax rate of approximately 8% Diluted EPS in the range of $0.70 to $0.90

(Street sees Q4 EPS of $1.03 on revenue of $718.1M)

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