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Qorvo, Inc. (QRVO) Q3 2024 Earnings Call Transcript

Qualcomm's (QCOM) 1Q adjusted EPS came in at $2.75 versus an estimated $2.38 and its revenue came in at $9.29B versus an estimated $9.50B. The company also issued updated guidance.

The headline numbers for Qorvo (QRVO) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Wireless connectivity chipmaker Qorvo forecast fourth-quarter revenue and profit above Wall Street estimates on Wednesday, anticipating a rebound in the smartphone market.

Healthy demand trends and portfolio additions are likely to have enabled Qorvo (QRVO) to record top-line growth in third-quarter fiscal 2024.

Along with the coronavirus pandemic, a wave of demand for fast and reliable communication has risen. Employers wanted to give workers access to resources and expect quick results.

The accelerated deployment of 5G is enhancing the prospects of the Zacks Semiconductors - Radio Frequency industry players like Qorvo (QRVO) and RF Industries (RFIL) despite challenging macroeconomic conditions.

With consistent growth and an optimistic forecast for the upcoming year, the semiconductor industry appears poised to regain its momentum in 2024. PLAB, NVDA, QRVO and ASML stocks have the potential to boost portfolio returns amid improving industry trends.

Semiconductor companies have been a portion of the market that has seen exponential growth over the last few years and shows no sign of stopping. The hype still surrounding generative A.I.

Qorvo has lagged many of its peers in recent years, and has been in need of right-sizing. Toward that end, the specialty chipmaker is selling its chip test and assembly facilities in China.