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Qorvo’s June-quarter revenue down less than expected, as Android consumer-related inventory consumption offset by growth in defense & aerospace and automotive

What happened

Qorvo reported fiscal Q1 2024 revenue of $651.2M, down 37% year-over-year but up 2.9% sequentially, beating expectations. The sequential improvement was driven by inventory consumption in Android consumer markets, partially offset by growth in defense & aerospace and automotive segments. Watch: Mixed signals from weak consumer demand versus resilient industrial/defense demand create uncertainty for near-term component pricing.

Impact and signal

Medium impactImpact score: 58/100

Affected components and suppliers

RF ComponentsPower Management ICs

Qorvo Inc

earningsinventory-drawdowndemand-mix

Source and time

Source: Semiconductor Today · 8/8/2023 · View original source

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Qorvo’s June-quarter revenue down less than expected, as Android consumer-related inventory consumption offset by growth in defense & aerospace and automotive

What happened

Impact and signal

Affected components and suppliers

Source and time

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