Qorvo Shares Fall 4% On Disappointing Outlook

By Wallace WitkowskiMarketsMarketWatch Pulse

Qorvo Inc. shares declined in the extended session Wednesday after the wireless components provider's outlook fell short of Wall Street estimates. Qorvo shares fell 4.1% to $65.28 after hours. The company forecast fiscal first-quarter earnings of 70 cents to 90 cents a share on revenue of $610 million to $650 million. Analysts surveyed by FactSet had estimated earnings of $1.02 a share on revenue of $698.4 million. For the fiscal fourth quarter, the company reported adjusted earnings of 85 cents a share on adjusted revenue of $624 million, while analysts had estimated 81 cents a share on revenue of $632 million.

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