| SELECTED GAAP RESULTS BY OPERATING SEGMENT | |||||||||||||||||||
| (In millions, except percentages) | |||||||||||||||||||
| (Unaudited) | |||||||||||||||||||
| Q3 Fiscal 2024 | Q2 Fiscal 2024 | Q3 Fiscal 2023 |
Sequential
Change |
Year-over-Year
Change | |||||||||||||||
| Revenue | |||||||||||||||||||
| HPA | $ | 118.9 | $ | 149.8 | $ | 155.0 | (20.6 | )% | (23.3 | )% | |||||||||
| CSG | 108.9 | 103.6 | 96.8 | 5.1 | % | 12.5 | % | ||||||||||||
| ACG | 846.1 | 850.1 | 491.5 | (0.5 | )% | 72.1 | % | ||||||||||||
| Total revenue | $ | 1,073.9 | $ | 1,103.5 | $ | 743.3 | (2.7 | )% | 44.5 | % | |||||||||
| Operating (loss) income | |||||||||||||||||||
| HPA | $ | 1.6 | $ | 25.4 | $ | 29.8 | (93.7 | )% | (94.6 | )% | |||||||||
| CSG | (25.6 | ) | (27.7 | ) | (31.2 | ) | 7.6 | % | 17.9 | % | |||||||||
| ACG | 263.8 | 284.8 | 99.9 | (7.4 | )% | 164.1 | % | ||||||||||||
| All other (1) | (281.4 | ) | (131.1 | ) | (89.8 | ) | (114.6 | )% | (213.4 | )% | |||||||||
| Total operating (loss) income | $ | (41.6 | ) | $ | 151.4 | $ | 8.7 | (127.5 | )% | (578.2 | )% | ||||||||
| Operating (loss) income as a % of revenue | |||||||||||||||||||
| HPA | 1.3 | % | 17.0 | % | 19.2 | % | (15.7 | ) ppt | (17.9 | ) ppt | |||||||||
| CSG | (23.5 | ) | (26.7 | ) | (32.2 | ) | 3.2 | ppt | 8.7 | ppt | |||||||||
| ACG | 31.2 | 33.5 | 20.3 | (2.3 | ) ppt | 10.9 | ppt | ||||||||||||
| Total operating (loss) income as a % of revenue | (3.9 | )% | 13.7 | % | 1.2 | % | (17.6 | ) ppt | (5.1 | ) ppt | |||||||||
Qorvo® Announces Fiscal 2024 Third Quarter Financial Results
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(1) Adjusted for stock-based compensation expense, amortization of intangible assets, restructuring-related charges, acquisition and integration-related costs, goodwill impairment, charges associated with a long-term capacity reservation agreement, gain (loss) on disposal of business and assets, other income (expense), loss on investments, and an adjustment of income taxes.
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