Companies /Technology

Qorvo Inc

NASDAQ: QRVO Semiconductors
$96.57
▲ $0.49 (+0.50%) today
Markets open · 3:37pm ET

Q1 2027 Earnings

Reported Jul 28, 2026, 4:07pm ET · SEC source
$1.64
Beat +54.09%
EPS · est. $1.06
$784.8M
Beat +5.86%
Revenue · est. $741.4M
+0.4%
Beating market
QRVO vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Jul 28Jul 29report 4:07pm ETearnings−1.6%+3.4%
0+3%+6%Jul 28Jul 29earnings−1.6%+3.4%
QRVO +3.4%S&P 500 −1.6%
−3%0+3%+6%Jul 28Jul 29report 4:07pm ETearnings−2.3%+3.4%
−3%0+3%+6%Jul 28Jul 29earnings−2.3%+3.4%
QRVO +3.4%NASDAQ −2.3%
0+3%+6%+9%Jul 27Aug 5report 4:07pm ETearnings+3.9%+8.1%
0+3%+6%+9%Jul 27Aug 5earnings+3.9%+8.1%
QRVO +8.1%S&P 500 +3.9%
0+4%+8%Jul 27Aug 5report 4:07pm ETearnings+6.0%+8.1%
0+4%+8%Jul 27Aug 5earnings+6.0%+8.1%
QRVO +8.1%NASDAQ +6.0%
−2.46%
Day of report
+1.39%
Next session
+6.42%
One week
+5.84%
30 days

S&P 500 over the same 30 days: +5.47%.

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 $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

“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.”

Qorvo CEO, on the earnings call

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 · SEC filings Q1 2026 Q1 2027
$0$300.0M$600.0M$900.0M$818.8M$784.8MRevenue$331.8M$401.0MGross Profit$30.1M$96.8MOperating Income$25.6M$85.8MNet Income
$0$300.0M$600.0M$900.0MRevenueGross ProfitOperating IncomeNet Income

QRVO Revenue by Segment

Advanced Cellular Group$476.6M−16.6%
High Performance Analog$206.3M+50.1%
Connectivity and Sensors Group$101.9M−7.5%

Figures from SEC filings and company reports. Not investment advice.