Qorvo, Inc. Q4 adjusted earnings Beat Estimates

(RTTNews) - Qorvo, Inc. (QRVO) revealed earnings for fourth quarter that fell from the same period last year.

The company's profit totaled $50.4 million, or $0.43 per share. This compares with $61.5 million, or $0.50 per share, in last year's fourth quarter.

Excluding items, Qorvo, Inc. reported adjusted earnings of $185.3 million or $1.57 per share for the period.

Analysts had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.7% to $787.8 million from $680.9 million last year.

Qorvo, Inc. earnings at a glance:

-Earnings (Q4): $185.3 Mln. vs. $150.9 Mln. last year. -EPS (Q4): $1.57 vs. $1.22 last year. -Analysts Estimate: $1.33 -Revenue (Q4): $787.8 Mln vs. $680.9 Mln last year.

-Guidance: Next quarter revenue guidance: $710 - $750 Mln