Qorvo Inc., a semiconductor company, saw its stock price jump after it reported better-than-expected revenue, according to a filing with the Securities and Exchange Commission.

The company reported third quarter revenue of $845.7 million and diluted earnings per share of $1.69 compared to Wall Street analyst estimates of $840.9 million and earnings per share of $1.60.

Company stock jumped 10.5 percent from $71.77 at market close on Wednesday to $79.35 on Thursday morning. The stock is trading at $80.77 as of market close on Friday.

Qorvo reported a loss of $33.1 million in net income for the third quarter, compared to a positive net income of $35.9 this quarter last year.

The company partially attributes the drop in earnings to weakening handset sales, which are affected by Qorvo’s largest customer, Apple.

“While near-term market demand has weakened in handsets, our longer-term outlook has improved on recent developments with mid/high-band PADs, Phase 6 design wins, and cellular IoT and other connectivity applications,” said Bob Bruggeworth, president and chief executive officer of Qorvo.

Bruggeworth has been president and chief executive officer since the founding of Qorvo in 2015. Formerly, he was the president and chief executive officer of RF Micro Devices since 2002 and worked for the company since 1999.

Qorvo estimates fourth quarter revenue to be in the range of $645 million to $665 million, and diluted earnings per share at roughly $1.05.