trending Market Intelligence /marketintelligence/en/news-insights/trending/nlXcy6JmjqHEdbmFaWp6DQ2 content esgSubNav
In This List

Qorvo swings to loss in fiscal Q3

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


Qorvo swings to loss in fiscal Q3

Qorvo Inc. said its normalized net income for the fiscal third quarter ended Jan. 2 came to a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of 93 cents per share.

The per-share result swung to a loss from the prior-year profit of 93 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $8.2 million, compared with income of $69.4 million in the third quarter ended Dec. 27, 2014.

The normalized profit margin dropped to negative 1.6% from 17.5% in the year-earlier period.

Total revenue climbed 56.3% year over year to $620.7 million from $397.1 million, and total operating expenses climbed year over year to $625.9 million from $285.9 million.

Reported net income totaled a loss of $11.1 million, or a loss of 8 cents per share, compared to income of $87.9 million, or $1.18 per share, in the third quarter ended Dec. 27, 2014.