Why did QRVO's Q1 2025 EPS exceed forecasts?

Qorvo's Q1 2025 EPS exceeded forecasts due to strategic initiatives that expanded margins and generated strong free cash flow, as well as a focus on supporting key customers and narrowing product focus in the Android 5G portfolio. These efforts helped the company to perform well financially, despite market challenges.

1. **Strategic Initiatives**: Qorvo has been executing on a broad set of strategic initiatives aimed at expanding margin, generating strong free cash flow, and increasing shareholder value. These initiatives have likely contributed to the company's financial performance, including the positive surprise in EPS.
2. **Customer Support**: The company continued to successfully support its largest customer, who represented approximately 50% of sales. This focus on major customer relationships likely provided a stable revenue stream, which is crucial for EPS performance.
3. **Product Focus**: Qorvo is narrowing its focus to higher-value products within its Android 5G product portfolio. This strategic shift is likely improving the profitability of the products sold, which in turn enhances EPS.

In summary, Qorvo's EPS exceeded expectations due to a combination of strategic initiatives, customer support, and product focus. These factors collectively contributed to the company's financial performance and profitability.