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Qorvo stock rallies on earnings beat, sales forecast

Clyde Edgerton by Clyde Edgerton
May 3, 2023
in Markets
Qorvo stock rallies on earnings beat, sales forecast
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Share of Qorvo Inc. QRVO rallied after hours on Wednesday after the wireless-technology provider’s first-quarter sales forecast and fourth-quarter results topped expectations, following efforts to lean down its stockpiles of components for Android smartphones amid “weakness in end markets.” The company — which makes cellular technology and Wi-Fi for smartphones and other digital devices, along with radio-frequency and power-management products for a variety of industries — said it expected first-quarter sales of $620 million to $660 million, with adjusted earnings per share of 15 cents, compared with FactSet estimates…



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