Published on 31 Jan 2023 on Zacks via Yahoo Finance
Qorvo, Inc. QRVO is scheduled to report third-quarter fiscal 2023 results on Feb 1, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 4.31%. It pulled off a trailing four-quarter earnings surprise of 6.23%, on average. The company is likely to have recorded lower revenues year over year as it continues to navigate through adverse macroeconomic and geopolitical conditions.
Factors at Play
In the to-be-reported quarter, Qorvo inked a multi-year supply agreement with SK Siltron for silicon carbide (SiC) bare and epitaxial wafers to ease the domestic semiconductor supply chain situation. The SiC devices are better than conventional silicon in dealing with high power and heat conduction.