NASDAQ$QRVO
Qorvo Inc. · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Qorvo delivered an exceptional June quarter with revenue and EPS well above guidance.
Qorvo reported revenue of $787 million and GAAP EPS of $0.83 for Q1 2021. The company's results exceeded expectations due to the rollout of 5G and operational performance.
- Achieved record infrastructure revenue supporting 5G base station deployments and sampled GaN power amplifiers for upcoming U.S. C-band spectrum allocations
- Ramped programmable power management solution and Wi-Fi 6 FEM for a leading drone manufacturer, enabling longer flight time, greater range and larger payload
- Awarded design wins for integrated GaN multi-chip broadband Tx/Rx module and 50-watt GaN power amplifier for defense radar programs
- Experienced continued strong demand for Wi-Fi 6 products, including FEMs and BAW filters, driven by work-from-home trends
Headline financials
Revenue & EPS history
Qorvo · Revenue · Quarterly
$787M
Forward guidance
Qorvo expects robust end market demand and ongoing operational improvements to drive healthy revenue growth and gross margin expansion.
Tailwinds
- Quarterly revenue in the range of $925 million to $955 million
- Non-GAAP gross margin of approximately 50%
- Non-GAAP diluted earnings per share of $1.90 at the midpoint of guidance
Headwinds
- Qorvo’s actual quarterly results may differ from these expectations and projections, and such differences may be material.
- COVID-19 outbreak, which has and will likely continue to negatively impact the global economy and disrupt normal business activities, and which may have an adverse effect on our results of operations
- Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results
- Our substantial dependence on developing new products and achieving design wins
- Our dependence on a few large customers for a substantial portion of our revenue
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.0%
Avg return
Earnings day
-1.2%
Avg return
5 days after
+0.9%
Avg return
30 days after
42%
21 / 50 earnings
Positive
+21.8%
Q2 2020
Best reaction
-27.1%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +1.8% | -3.1% | +2.0% | |
| Q3 2026 | -6.8% | +2.1% | +7.4% | |
| Q2 2026 | -6.5% | -8.2% | -4.9% | |
| Q4 2025 | +14.4% | +12.9% | +21.3% | |
| Q3 2025 | +0.3% | -4.8% | -15.3% | |
| Q2 2025 | -27.1% | -28.3% | -31.8% | |
| Q1 2025 | -2.2% | -11.9% | -7.0% | |
| Q4 2024 | -18.1% | -17.7% | -15.8% | |
| Q3 2024 | +5.5% | +7.1% | +19.3% | |
| Q2 2024 | -2.2% | +0.8% | +11.4% | |
| Q1 2024 | -4.0% | -3.2% | -1.6% | |
| Q4 2023 | +0.6% | +0.8% | +4.9% | |
| Q3 2023 | -1.6% | -5.9% | -5.5% | |
| Q2 2023 | -4.4% | +1.8% | +12.3% | |
| Q1 2023 | +5.5% | +3.4% | -12.5% | |
| Q4 2022 | -9.4% | -14.4% | -9.2% | |
| Q3 2022 | -7.4% | -7.5% | -6.7% | |
| Q2 2022 | -10.2% | -7.4% | -12.9% | |
| Q1 2022 | -0.2% | -0.8% | -5.0% | |
| Q4 2021 | +1.2% | -6.0% | +1.3% | |
| Q3 2021 | -6.5% | -4.8% | -4.4% | |
| Q2 2021 | +14.2% | +16.4% | +28.7% | |
| Q1 2021 | +13.5% | +17.6% | +14.0% | |
| Q4 2020 | +4.8% | +2.4% | +17.7% | |
| Q3 2020 | -1.6% | -5.3% | -11.4% | |
| Q2 2020 | +21.8% | +26.9% | +30.5% | |
| Q1 2020 | -3.3% | -4.3% | -2.5% | |
| Q4 2019 | +2.5% | +1.0% | -14.6% | |
| Q3 2019 | -6.0% | -5.0% | -0.1% | |
| Q2 2019 | +10.6% | -2.3% | -7.2% | |
| Q1 2019 | +3.2% | +4.2% | -2.0% | |
| Q4 2018 | +6.9% | +10.9% | +13.9% | |
| Q3 2018 | +17.9% | +6.9% | +14.8% | |
| Q2 2018 | -2.0% | +3.5% | -2.1% | |
| Q1 2018 | -1.7% | +1.1% | +7.6% | |
| Q4 2017 | -1.9% | -3.9% | +15.5% | |
| Q3 2017 | -1.3% | +0.2% | +3.1% | |
| Q2 2017 | -8.9% | -9.1% | -9.8% | |
| Q1 2017 | -13.2% | -13.3% | -9.0% | |
| Q4 2016 | +3.6% | — | — | |
| Q3 2016 | +0.5% | — | — | |
| Q2 2016 | +19.3% | — | — | |
| Q1 2016 | -14.5% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2015 | +12.7% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | -0.6% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — |
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