Qorvo Inc., a semiconductor equipment company, announced a net loss of $78.6 million for its third fiscal quarter but beat analyst expectations.

Revenue decreased to $826.3 million, or 4.4 percent, from the previous quarter.

Earnings per share, adjusted for amortization and pretax expenses, were $1.35 per share, which beat analysts estimates of $1.26 per share.

Qorvo projected declining revenue for the upcoming March quarter of $610 million to $650 million due to the delay of smartphone launches by top manufacturing customers in China and Korea.

Bob Bruggeworth, president and chief executive officer of Qorvo, referred to the March quarter forecast as, “a greater than historical sequential decline.”

Analysts are estimating earnings of $1.04 per share for the next quarter.

The stock closed at $64.55 but has dropped $4.55, or 7.05 percent, after hours. The earnings were released after the market closed.

The filing can be found here