RF Micro Devices Earnings: Here’s Why the Stock is Falling Now
RF Micro Devices Inc. (NASDAQ:RFMD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.10%.
RF Micro Devices Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 800% to $0.09 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Rose 44.58% to $293 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: RF Micro Devices Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $287.93 million.
Quoting Management: Bob Bruggeworth, president and CEO of RFMD, said, “RFMD is capitalizing on the expanding demand for data-rich mobile applications, and our products are at the heart of the high-speed data connections enabling always-on, broadband mobility – both in the devices and consumer premises equipment, and within the supporting network infrastructure. We are executing on multiple opportunities to increase our dollar content generation-over-generation in the world’s leading smartphones, and we are benefiting from increasing participation in the highest volume entry-level platforms and reference designs.
“Looking forward, we believe we are strategically well positioned this fiscal year to deliver record revenue and improving financial performance, given our expectations for diversification, content growth, category expansion, and market share gains, combined with the benefit of new customer product ramps.”
Key Stats (on next page)…