Qorvo reports Q1 EPS 92c, consensus 63c

Reports Q1 revenue $818.8M, consensus $776.47M. Grant Brown, chief financial officer of Qorvo (QRVO), said, “Qorvo’s fiscal first quarter revenue and non-GAAP EPS exceeded the high-end of guidance, driven by broad-based demand. Fiscal first quarter non-GAAP gross margin of 44% achieved the high-end of guidance and represented a meaningful year-over-year improvement. Furthermore, our fiscal second quarter non-GAAP gross margin guidance of 48% – 50% would represent a 200 basis-point improvement versus last year at the midpoint. These improvements demonstrate the actions being undertaken across our product portfolio, business segments, and manufacturing footprint that will enable us to improve profitability as we advance through fiscal 2026 and into fiscal 2027.”