Qorvo Sees Q3 2024 Revenue ~$1B, +/- $25M Vs $989.69M Est
Portfolio Pulse from Benzinga Newsdesk
Qorvo has projected its Q3 2024 revenue to be around $1 billion, which is higher than the estimated $989.69 million. The company's CFO, Grant Brown, stated that this projection reflects content gains at their largest customer and sequential growth in all three operating segments. Qorvo's outlook for the December 2023 quarter includes a non-GAAP gross margin between 43% and 44% and non-GAAP diluted earnings per share of approximately $1.65.
November 01, 2023 | 8:04 pm
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Qorvo's higher than expected revenue projection for Q3 2024 could potentially boost investor confidence and positively impact the company's stock price in the short term.
The news of Qorvo's higher than expected revenue projection for Q3 2024 is directly related to the company's financial performance. This could potentially boost investor confidence in the company's growth prospects, leading to increased demand for the stock and a potential rise in its price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100