Qorvo Shares Drop After Revenue Outlook Lowered

Qorvo Inc. shares fell in the extended session Thursday after the semiconductor company lowered its outlook for the fiscal third quarter. Qorvo shares, which had been halted at $45.64 before the announcement, fell 8% to $42.01 as after-hours trading resumed. The company expects quarterly revenue of about $620 million, down from its original forecast of $720 million to $730 million, because of weaker-than-expected demand in its mobile products segment. Analysts surveyed by FactSet had forecast revenue of $723.7 million.