Qorvo sees Q4 EPS $1.20 +/- 15c, consensus $1.37

Sees Q4 revenue $800M +/- $25M, consensus $905.38M. Sees Q4 gross margin 48%-49%. Grant Brown, chief financial officer of Qorvo (QRVO), said, “Qorvo’s fiscal third quarter revenue, non-GAAP gross margin, and non-GAAP EPS all compared favorably to guidance. We continue to execute on cost and productivity initiatives to structurally enhance our gross and operating margins. December quarterly non-GAAP gross margin increased approximately 260 basis points versus last fiscal year, and we expect a similar year-over-year improvement, at the midpoint of guidance, in the March quarter.”