Qorvo Quarter 3: strong sales, stock soars.

Qorvo (NASDAQ: QRVO) has announced better-than-expected results for Q3 FY2024, with revenue up 44.5% year on year to $1.07 billion. The company's stock has soared following the announcement. Qorvo's guidance for next quarter's revenue is also better than expected at $925 million at the midpoint, 1.2% above analysts' estimates. The company made a non-GAAP profit of $2.10 per share, improving from its profit of $0.75 per share in the same quarter last year. In addition, Qorvo announced it has reached an agreement to acquire Anokiwave, a supplier of high-performance silicon integrated circuits.

January 31, 2024
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