Qorvo forecasts Q3 profit, revenue above estimates on smartphone market recovery

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Wireless connectivity chip maker Qorvo forecast third-quarter revenue and adjusted profit above Wall Street estimates on Tuesday, expecting a boost from its largest customer Apple ahead of an expected recovery in the smartphone market. The company's shares rose 1.3 per cent in extended trading.

Wireless connectivity chip maker Qorvo forecast third-quarter revenue and adjusted profit above Wall Street estimates on Tuesday, expecting a boost from its largest customer Apple ahead of an expected recovery in the smartphone market.Qorvo makes radio-frequency chips used in 5G base stations, as well as for cellular and WiFi connectivity in smartphones and other gadgets.

The smartphone market is expected to recover after seeing a 0.1 per cent decline in the September quarter, data from the IDC showed. The company sees third-quarter revenue of about $1 billion, plus or minus $25 million, compared with LSEG estimates of $992 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines