Qorvo forecasts quarterly results below estimates on weak flagship smartphone market

Explore stories from Atlantic Canada.

Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWire - Wireless connectivity chipmaker Qorvo forecast first-quarter revenue and profit below Wall Street estimates on Wednesday as it expects weak demand from flagship smartphone market, sending shares down more than 11% in aftermarket trading.

An uncertain economy has also forced customers to cut discretionary spending, with Qorvo facing stiff competition from other bigger rivals such as Broadcom and Qualcomm. The Greensboro, North Carolina-based company expects first-quarter revenue to be about $850 million, plus or minus $25 million, compared with analysts' average estimate of $917.7 million, according to LSEG data.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UPDATED: Plane leaves runway during landing at St. John's International AirportExplore stories from Atlantic Canada.
Read more »

Dollar/yen nosesdives again as market watches for BOJ interventionExplore stories from Atlantic Canada.
Read more »

Jury selected at Whynder-Ewing's murder trial in DartmouthExplore stories from Atlantic Canada.
Read more »

‘An unacceptable document’: Critics call for changes to Halifax's road safety strategyExplore stories from Atlantic Canada.
Read more »

Jury selected at Whynder-Ewing's murder trial in DartmouthExplore stories from Atlantic Canada.
Read more »

DoorDash projects quarterly core profit below estimates on higher costsExplore stories from Atlantic Canada.
Read more »