Investing.com -- Qorvo Inc (NASDAQ:QRVO) shares jumped more than 18% in aftermarket trading after its third-quarter earnings beat Wall Street estimates.
Company reported adjusted earnings per share of $1.61, beating the consensus of $1.21. Revenue came in at $916.3 million, topping analysts' expectations of $902.6 million.
For the fourth quarter of fiscal 2025, Qorvo forecast EPS of $0.90 to $1.10, above the consensus estimate of $0.86, and projected revenue of $850 million, slightly ahead of the $849 million analysts expected.
“Qorvo exceeded the midpoint of our December quarter non-GAAP guidance in revenue, gross margin, and EPS,” said CFO Grant Brown, adding the company restructured its Android business, a move expected to lower operating expenses and improve gross margins in fiscal 2026.
The company also divested its silicon carbide business after the quarter ended, aiming to achieve gross margins in the high 40% range during seasonally strong quarters of fiscal 2026 and further improvement in fiscal 2027.
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