The earnings call reflected a strong start to fiscal 2026 with significant performance in several key areas, including content growth at the largest customer, defense and aerospace, and infrastructure. However, challenges remain in the automotive sector, Android revenue, and ongoing restructuring efforts. While the highlights are noteworthy, the lowlights indicate areas of concern that could affect future performance.

Company Guidance -

Q2 2026

During the first quarter of fiscal 2026, Qorvo provided guidance reflecting strong performance across its segments. The company's revenue was reported at $819 million with a non-GAAP gross margin of 44% and non-GAAP diluted earnings of $0.92 per share, surpassing expectations. For the upcoming quarter, Qorvo projects revenue between $975 million and $1.075 billion, with a gross margin of 48% to 50% and EPS of $1.75 to $2.25. Notable highlights include a more than 10% year-over-year content growth at its largest customer and robust demand in defense and aerospace, contributing to a $7 billion sales funnel. Qorvo also highlighted ongoing factory optimizations and cost-saving initiatives, including the closure of its North Carolina fab and the transition of SAW filter production to Texas, with anticipated efficiency benefits starting in fiscal 2027. Despite strong results, the company remains cautious, citing macroeconomic uncertainties and strategic pivots, such as exiting lower-margin Android segments and pushing out certain CSG revenues to fiscal 2027.

Strong First Quarter Performance

Qorvo delivered a strong first quarter of fiscal 2026 with revenue of $819 million, non-GAAP gross margin of 44%, and non-GAAP diluted earnings of $0.92 per share, all exceeding guidance.

Content Growth at Largest Customer

Qorvo achieved more than 10% content growth year-over-year in the fall launch at its largest customer, contributing to strong revenue performance.

Defense and Aerospace Growth

Defense and Aerospace (D&A) remains HPA's largest market by revenue, with expectations of durable year-over-year growth supported by increases in U.S. and allied defense spending.

Wi-Fi 7 and Ultra-Wideband Opportunities

Qorvo secured a Wi-Fi 7 design win in augmented reality glasses and is leveraging its ultra-wideband and Matter portfolio to scale new use cases and diversify revenue.

Infrastructure and DOCSIS 4.0 Momentum

Strong momentum in DOCSIS 4.0 broadband cable access, with Qorvo releasing two new GaN-based power doubler amplifiers.

Improved Financial Metrics

Operating cash flow of $183 million and free cash flow of $145 million were reported, showing financial health and operational efficiency.

Qorvo (QRVO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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QRVO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2026 (Q2)	2.01 / -	1.88	―	―	―
Jul 29, 2025	2026 (Q1)	0.63 / 0.92	0.87	5.75% (+0.05)	―
Apr 29, 2025	2025 (Q4)	1.00 / 1.42	1.39	2.16% (+0.03)	―
Jan 28, 2025	2025 (Q3)	1.21 / 1.61	2.1	-23.33% (-0.49)	―
Oct 29, 2024	2025 (Q2)	1.85 / 1.88	2.39	-21.34% (-0.51)	―
Jul 30, 2024	2025 (Q1)	0.71 / 0.87	0.34	155.88% (+0.53)	―
May 01, 2024	2024 (Q4)	1.21 / 1.39	0.26	434.62% (+1.13)	―
Jan 31, 2024	2024 (Q3)	1.66 / 2.10	0.75	180.00% (+1.35)	―
Nov 01, 2023	2024 (Q2)	1.77 / 2.39	2.66	-10.15% (-0.27)	―
Aug 02, 2023	2024 (Q1)	0.15 / 0.34	2.25	-84.89% (-1.91)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

QRVO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$84.67	―	―
Apr 29, 2025	$62.65	$71.67	+14.40%
Jan 28, 2025	$85.78	$86.03	+0.29%
Oct 29, 2024	$100.48	$73.04	-27.31%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.