GREENSBORO, N.C. (AP) — GREENSBORO, N.C. (AP) — Qorvo Inc. (QRVO) on Tuesday reported fiscal first-quarter net income of $85.8 million.
On a per-share basis, the Greensboro, North Carolina-based company said it had net income of 96 cents. Earnings, adjusted for one-time gains and costs, came to $1.64 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The chipmaker posted revenue of $784.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $745.8 million.
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