** charts before earnings **
** charts after earnings **
Qorvo beats by $0.22, beats on revs; guides DecQ EPS above consensus, revs above consensus; announces $1 bln share repurchase authorization
Reports Q2 (Sep) earnings of $1.52 per share, excluding non-recurring items, $0.22 better than the S&P Capital IQ Consensus of $1.30; revenues fell 8.8% year/year to $806.7 mln vs the $754.67 mln S&P Capital IQ Consensus.
Co issues upside guidance for Q3 (Dec), sees EPS of approx $1.67, excluding non-recurring items, vs. $1.35 S&P Capital IQ Consensus; sees Q3 revs of $840-860 mln vs. $761.25 mln S&P Capital IQ Consensus.
Co also announces it has authorized the repurchase of up to $1 bln of stock. The new repurchase program includes approximately $117 mln authorized under a prior program.
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