Q1 27 EPS
$1.64
BEAT +54.09%
Est. $1.06
Q1 27 Revenue
$784.8M
BEAT +5.86%
Est. $741.4M
vs S&P Since Q1 27
+5.9%
BEATING MARKET
QRVO +11.9% vs S&P +6.0%
Market Reaction
Did QRVO Beat Earnings? Q1 2027 Results
Qorvo, Inc. Delivered a standout fiscal first quarter of 2027, posting results that cleared Wall Street's bar by a wide margin and extending the company's EPS beat streak to four consecutive quarters. Non-GAAP earnings per share of $1.64 topped the $… Read more Qorvo, Inc. Delivered a standout fiscal first quarter of 2027, posting results that cleared Wall Street's bar by a wide margin and extending the company's EPS beat streak to four consecutive quarters. Non-GAAP earnings per share of $1.64 topped the $1.06 consensus estimate by 54.09%, powered by an 880-basis-point surge in non-GAAP gross margin to 52.8%, as an improving business mix across segments and sharply reduced capital intensity more than offset a 4.2% year-over-year dip in revenue to $784.80 million, which itself beat the $741.39 million consensus by 5.86%. The High Performance Analog segment was the quarter's brightest spot, with revenue climbing 50.1% year-over-year to $206.30 million and operating income jumping 224% to $70.00 million, underscoring the company's strategic shift toward higher-value, margin-accretive product lines. Observers tracking Qorvo's recovery have noted that RF demand and cost discipline are increasingly supporting profitability even as smartphone-related volumes remain uneven. Looking ahead, Qorvo guided full-year fiscal 2027 non-GAAP gross margin above 50% and non-GAAP diluted EPS above $7.00, though the company has suspended detailed guidance and earnings calls given its pending merger with Skyworks Solutions.
Key Takeaways
- • Double-digit year-over-year revenue growth in defense & aerospace, infrastructure, and power markets
- • Successful pivot in ACG to higher-value placements improving segment margins
- • Non-GAAP gross margin expanded 880 basis points year-over-year to 52.8%
- • Improved business mix within and across operating segments
- • Reduced capital intensity
- • HPA revenue grew 50.1% year-over-year with operating margin expanding 18.2 percentage points
- • CSG returned to operating profitability from a loss position
QRVO Forward Guidance & Outlook
For full-year fiscal 2027, Qorvo expects non-GAAP gross margin above 50% and now expects non-GAAP diluted EPS above $7.00. The company has discontinued providing detailed forward-looking guidance and conference calls given its pending merger transaction with Skyworks. Fiscal 2027 is a 53-week year, and the fiscal second quarter ending October 3, 2026 will include 14 weeks.
QRVO YoY Financials
Q1 2027 vs Q1 2026, source: SEC Filings
QRVO Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Qorvo team delivered strong June quarterly financial results, supported by double-digit year-over-year revenue growth in D&A, infrastructure, and power, coupled with our successful pivot in ACG to higher value placements. For full-year fiscal 2027, we continue to expect non-GAAP gross margin above 50% and now expect non-GAAP diluted earnings per share above $7.00.”
— Bob Bruggeworth, Q1 2027 Earnings Press Release
QRVO Earnings Trends
QRVO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
QRVO EPS Trend
Earnings per share: estimate vs actual
QRVO Revenue Trend
Quarterly revenue: estimate vs actual
QRVO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $1.06 | $1.64 | +54.09% | $784.8M | +5.86% |
| Q4 26 BEAT FY | $1.21 | $1.69 | +39.48% | $808.3M | +0.81% |
| FY Full Year | — | $3.62 | — | $3.68B | — |
| Q3 26 BEAT | $1.86 | $2.17 | +16.40% | $993.0M | +0.85% |
| Q2 26 BEAT | $2.11 | $2.22 | +5.12% | $1.06B | +2.11% |
| Q1 26 BEAT | $0.63 | $0.92 | +46.17% | $818.8M | +5.45% |