Qorvo® Announces Fiscal 2025 First Quarter Financial Results

(1) Adjusted for stock-based compensation expense, amortization of intangible assets, restructuring-related charges, acquisition and integration-related costs, adjustments related to a terminated capacity reservation agreement, gain or loss on assets, other expense or income, gain or loss on investments, and an adjustment of income taxes.

SELECTED GAAP RESULTS BY OPERATING SEGMENT
(In millions, except percentages)
(Unaudited)
 
  Q1 Fiscal 2025  Q4 Fiscal 2024  Q1 Fiscal 2024  Sequential Change  Year-over-Year Change
Revenue         
HPA$129.5  $164.6  $139.7  (21.3)% (7.3)%
CSG 114.9   122.8   99.3  (6.4)% 15.7%
ACG 642.3   653.6   412.2  (1.7)% 55.8%
Total revenue$886.7  $941.0  $651.2    (5.8 )%   36.2 %
Operating income (loss)                      
HPA $ 4.9     $ 31.5     $ 24.0     (84.4 )%   (79.6 )%
CSG   (19.5 )     (15.2 )     (20.2 )   (28.3 )%   3.5 %
ACG   116.4       134.3       45.0     (13.3 )%   158.7 %
All other (1)   (97.2 )     (120.6 )     (96.9 )   19.4 %   (0.3 )%
Total operating income (loss) $ 4.6     $ 30.0     $ (48.1 )   (84.7 )%   109.6 %
Operating income (loss) as a % of revenue                      
HPA   3.8 %     19.1 %     17.2 %   (15.3) ppt     (13.4) ppt  
CSG   (17.0 )     (12.4 )     (20.3 )   (4.6) ppt     3.3 ppt  
ACG   18.1       20.5       10.9     (2.4) ppt     7.2 ppt  
Total operating income (loss) as a % of revenue   0.5 %     3.2 %     (7.4 )%   (2.7) ppt     7.9 ppt  

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