Qorvo® Announces Fiscal 2021 Second Quarter Financial Results


   SELECTED NON-GAAP RESULTS1 
   (Unaudited) 
  (In millions, except for percentages and EPS) 
   For the quarter ended
October 3, 2020
  For the quarter ended
June 27, 2020
  Change vs. Q1
FY 2021
 
Gross profit$547.9 $382.5 $165.4  
Gross margin 51.7% 48.6% 3.1 ppt
Operating expenses$218.6 $178.7 $39.9  
Operating income$329.4 $203.7 $125.7  
Net income$282.3 $175.1 $107.2  
Weighted average diluted shares 116.2  116.8  (0.6) 
Diluted EPS$2.43 $1.50 $0.93  


   SELECTED GAAP RESULTS 
   (Unaudited) 
  (In millions, except for percentages and EPS) 
   For the quarter ended
October 3, 2020
  For the quarter ended
September 28, 2019
  Change vs. Q2
FY 2020
 
Revenue$ 1,060.3   $ 806.7   $ 253.6    
Gross profit $ 491.6   $ 323.6   $ 168.0    
Gross margin   46.4 %   40.1 %   6.3   ppt
Operating expenses $ 269.9   $ 210.8   $ 59.1    
Operating income $ 221.6   $ 112.8   $ 108.8    
Net income $ 136.9   $ 83.0   $ 53.9    
Weighted average diluted shares   116.2     119.4     (3.2 )  
Diluted EPS $ 1.18   $ 0.70   $ 0.48    

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