Qorvo (NASDAQ:QRVO) reported its Q1 results, with EPS of $0.34 surpassing the Street estimate of $0.15. Furthermore, the revenue for the quarter amounted to $651 million, which exceeded the Street estimate of $640.25 million.
CFO Grant Brown provided positive guidance for the future, stating that they anticipate a significant sequential increase in September quarterly revenue, surpassing 50%. This growth is primarily driven by content gains at their largest customer. Additionally, they expect to achieve year-over-year revenue growth in fiscal 2024.
Looking ahead to Q2/24, the projected EPS is $1.75, higher than the Street estimate of $1.62. The revenue estimate for the quarter is approximately $1 billion, plus or minus $15 million, compared to the Street estimate of $959.78 million.