Qorvo Shares Fall 4% On Disappointing Outlook

By MarketsMarketWatch 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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