Shares of Qorvo (QRVO) plunged more than 25% Wednesday afternoon when the radio frequency and power chipmaker posted a surprising loss and warned of a continuing slowdown in its busi⭕ness.

The company reported a fiscal 2025 second-quarter loss of $17.4 million, or $0.18 per share. Analysts surveyed by Visible Alpha expected a profit of $101.9 million, or $1.03 per share. Revenue fell 5% year-over-year to $1.05 billion, basically in line with forecasts.

Qorvo shares sank to their lowest l♑evel since the beginninജg of the COVID-19 pandemic in 2020.

CFO Says Customers Choosing Entry-Tier Android 5G Smar♌tphones

澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Grant Brown said that while the flagship and premium tiers in the smartphone market are performing well, custome🔜rs are choosing entry-tier Android 5G smartphones in favor of mid-tier ones, adding🧸 that "content and ramp profiles vary by model, and we are experiencing unfavorable mix. We expect this to continue in the second half of fiscal 2025."

Sales at its Advanced Cellular Group (ACG) tumbled 12% to $751.4 million, and at its High Performance Analog (HPA) division, they slipped 1% to $148.3 million. However, sales soared 42% to $146.8 million at its Connectivity and Sensors Group (CSG).

Brown added that Qorvo was "taking appropriate actions, including factory consolidation and operating expense reductions as well as focusing on opportunities that align with our long-term profitability objectives."

Brown explained that full-year revenue and 澳洲幸运5官方开奖结果体彩网:gross margin would be down slightly from fiscal 2024. The company sees current-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) between $1.10 and $1.30, and revenue of $900 million, plus or minus $25 million.&🦄nbsp;