Qorvo® Announces Fiscal 2024 First Quarter Financial Results
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SELECTED NON-GAAP RESULTS
1 |
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(Unaudited) |
| | | (In millions, except for percentages and EPS) |
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For the quarter ended July 1, 2023 | |
For the quarter ended April 1, 2023 | |
Change vs. Q4 FY 2023 |
| Revenue | $ | 651.2 | | $ | 632.7 | | $ | 18.5 | |
| Gross profit | $ | 279.5 | | $ | 261.2 | | $ | 18.3 | |
| Gross margin | | 42.9 | % | | 41.3 | % | | 1.6 | ppt |
| Operating expenses | $ | 232.7 | | $ | 227.4 | | $ | 5.3 | |
| Operating income | $ | 46.7 | | $ | 33.8 | | $ | 12.9 | |
| Net income | $ | 33.6 | | $ | 25.7 | | $ | 7.9 | |
| Weighted-average diluted shares | | 99.3 | | | 100.4 | | | (1.1 | ) |
| Diluted EPS | $ | 0.34 | | $ | 0.26 | | $ | 0.08 | |
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SELECTED GAAP RESULTS |
| | |
(Unaudited) |
| | | (In millions, except for percentages and EPS) |
| | |
For the quarter ended July 1, 2023 | |
For the quarter ended July 2, 2022 | |
Change vs. Q1 FY 2023 |
| Revenue | $ | 651.2 | | $ | 1,035.4 | | $ | (384.2 | ) |
| Gross profit | $ | 229.1 | | $ | 375.3 | | $ | (146.2 | ) |
| Gross margin | | 35.2 | % | | 36.2 | % | | (1.0 | )ppt |
| Operating expenses | $ | 277.2 | | $ | 273.4 | | $ | 3.8 | |
| Operating (loss) income | $ | (48.1 | ) | $ | 101.9 | | $ | (150.0 | ) |
| Net (loss) income | $ | (43.6 | ) | $ | 68.9 | | $ | (112.5 | ) |
| Weighted-average diluted shares | | 98.5 | | | 106.1 | | | (7.6 | ) |
| Diluted EPS | $ | (0.44 | ) | $ | 0.65 | | $ | (1.09 | ) |
