Qorvo, Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Qorvo, Inc. (QRVO) released a profit for its second quarter that increased from last year.

The company's earnings came in at $319.19 million, or $2.84 per share. This compares with $136.92 million, or $1.18 per share, in last year's second quarter.

Excluding items, Qorvo, Inc. reported adjusted earnings of $384.54 million or $3.42 per share for the period.

Analysts had expected the company to earn $3.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.9% to $1.26 billion from $1.06 billion last year.

Qorvo, Inc. earnings at a glance:

-Earnings (Q2): $384.54 Mln. vs. $282.29 Mln. last year. -EPS (Q2): $3.42 vs. $2.43 last year. -Analysts Estimate: $3.25 -Revenue (Q2): $1.26 Bln vs. $1.06 Bln last year.

-Guidance: Next quarter EPS guidance: $2.75 Next quarter revenue guidance: $1.09 - $1.12 Bln