Qorvo® Announces Fiscal 2024 Second Quarter Financial Results
|
SELECTED NON-GAAP RESULTS
1 |
|
(Unaudited) |
| (In millions, except for percentages and EPS) |
| | |
Q2 Fiscal 2024 | |
Q1 Fiscal 2024 | |
Q2 Fiscal 2023 | |
Sequential Change | | |
Year-over-Year Change | |
| Revenue | $ | 1,103.5 | | $ | 651.2 | | $ | 1,158.1 | | $ | 452.3 | | | $ | (54.6 | ) | |
| Gross profit | $ | 525.2 | | $ | 279.5 | | $ | 570.2 | | $ | 245.7 | | | $ | (45.0 | ) | |
| Gross margin | | 47.6 | % | | 42.9 | % | | 49.2 | % | | 4.7 | | ppt | | (1.6 | ) | ppt |
| Operating expenses | $ | 245.8 | | $ | 232.7 | | $ | 232.5 | | $ | 13.1 | | | $ | 13.3 | | |
| Operating income | $ | 279.4 | | $ | 46.7 | | $ | 337.7 | | $ | 232.7 | | | $ | (58.3 | ) | |
| Net income | $ | 235.5 | | $ | 33.6 | | $ | 276.2 | | $ | 201.9 | | | $ | (40.7 | ) | |
| Weighted-average diluted shares | | 98.6 | | | 99.3 | | | 103.7 | | | (0.7 | ) | | | (5.1 | ) | |
| Diluted EPS | $ | 2.39 | | $ | 0.34 | | $ | 2.66 | | $ | 2.05 | | | $ | (0.27 | ) | |
