Qorvo: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Qorvo (NASDAQ:QRVO) surpassed Q3 earnings estimates with an EPS of $2.1, beating the forecast of $1.66 by 26.51%. Revenue increased by $330.72 million compared to the same period last year. Despite beating last quarter's EPS estimate, QRVO's stock dropped by 2.66% the following day. The company has a history of surpassing EPS estimates over the past four quarters.
January 31, 2024 | 9:05 pm
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Qorvo reported a strong Q3 with EPS of $2.1, beating estimates by 26.51%, and a significant year-over-year revenue increase. Historically, the stock has shown a drop after earnings beat.
While Qorvo's earnings beat is positive, the stock's historical performance shows a drop after earnings beats, suggesting a cautious short-term outlook. The significant beat on EPS and revenue growth are positive indicators, but investor reaction could be mixed based on past trends.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100