| SELECTED NON-GAAP RESULTS 1 | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| (In millions, except for percentages and EPS) | |||||||||||||||||
| Q2 Fiscal 2024 | Q1 Fiscal 2024 | Q2 Fiscal 2023 | Sequential Change | Year-over-Year Change | |||||||||||||
| Revenue | $ | 1,103.5 | $ | 651.2 | $ | 1,158.1 | $ | 452.3 | $ | (54.6 | ) | ||||||
| Gross profit | $ | 525.2 | $ | 279.5 | $ | 570.2 | $ | 245.7 | $ | (45.0 | ) | ||||||
| Gross margin | 47.6 | % | 42.9 | % | 49.2 | % | 4.7 | ppt | (1.6 | ) | ppt | ||||||
| Operating expenses | $ | 245.8 | $ | 232.7 | $ | 232.5 | $ | 13.1 | $ | 13.3 | |||||||
| Operating income | $ | 279.4 | $ | 46.7 | $ | 337.7 | $ | 232.7 | $ | (58.3 | ) | ||||||
| Net income | $ | 235.5 | $ | 33.6 | $ | 276.2 | $ | 201.9 | $ | (40.7 | ) | ||||||
| Weighted-average diluted shares | 98.6 | 99.3 | 103.7 | (0.7 | ) | (5.1 | ) | ||||||||||
| Diluted EPS | $ | 2.39 | $ | 0.34 | $ | 2.66 | $ | 2.05 | $ | (0.27 | ) | ||||||
Qorvo® Announces Fiscal 2024 Second Quarter Financial Results
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