GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported fiscal first-quarter net income of $85.8 million.
On a per-share basis, the Greensboro, North Carolina-based company said it had net income of 96 cents. Earnings, adjusted for one-time gains and costs, came to $1.64 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The chipmaker posted revenue of $784.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $745.8 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QRVO at https://www.zacks.com/ap/QRVO
/An%20Intel%20sign%20out%20front%20of%20a%20corporate%20office%20by%20wolterke%20via%20Adobe%20Stock.jpeg)
/Microsoft%20headquarters%20By%20Peter.jpeg)
/A%20close-up%20of%20the%20Broadcom%20logo%20on%20a%20smartphone%20by%20Timon%20via%20Adobe%20Stock.jpeg)
/Chipset%20held%20over%20rush%20hour%20traffic%20by%20Jae%20Young%20Ju%20via%20iStock.jpg)