Qorvo Q1 EPS $0.34 Beats $0.15 Estimate, Sales $651.16M Beat $639.84M Estimate
Portfolio Pulse from Benzinga Newsdesk
Qorvo reported Q1 earnings of $0.34 per share, beating the analyst consensus estimate of $0.15 by 126.67%. However, this is a 84.89% decrease from the same period last year. The company also reported quarterly sales of $651.16 million, beating the estimate of $639.84 million by 1.77%, but this is a 37.09% decrease from last year.
August 04, 2023 | 12:06 pm
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NEUTRAL IMPACT
Qorvo's Q1 earnings and sales exceeded estimates, but both showed significant decreases compared to the same period last year. This mixed result could lead to uncertainty in the market.
While Qorvo beat estimates for Q1, the significant year-over-year decreases in both earnings and sales could lead to uncertainty among investors. This could potentially result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100