Companies /Technology

Qorvo Inc

NASDAQ: QRVO Semiconductors
$96.40
▲ $0.32 (+0.33%) today
Markets closed · 4:34pm ET

Q2 2026 Earnings

Reported Nov 3, 2025, 4:05pm ET · SEC source
$2.22
Beat +5.12%
EPS · est. $2.11
$1.1B
Beat +2.11%
Revenue · est. $1.0B
+1.2%
Beating market
QRVO vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Nov 3Nov 4report 4:05pm ETearnings−1.3%−6.1%
−6%−3%0Nov 3Nov 4earnings−1.3%−6.1%
QRVO −6.1%S&P 500 −1.3%
−6%−3%0Nov 3Nov 4report 4:05pm ETearnings−2.3%−6.1%
−6%−3%0Nov 3Nov 4earnings−2.3%−6.1%
QRVO −6.1%NASDAQ −2.3%
−8%−4%0+4%Nov 3Nov 11report 4:05pm ETearnings−0.1%−5.9%
−8%−4%0+4%Nov 3Nov 11earnings−0.1%−5.9%
QRVO −5.9%S&P 500 −0.1%
−8%−4%0+4%Nov 3Nov 11report 4:05pm ETearnings−1.7%−5.9%
−8%−4%0+4%Nov 3Nov 11earnings−1.7%−5.9%
QRVO −5.9%NASDAQ −1.7%
−6.45%
Day of report
+2.47%
Next session
−1.17%
One week
+2.76%
30 days

S&P 500 over the same 30 days: +1.55%.

Did QRVO Beat Earnings? Q2 2026 Results

Qorvo delivered a clean beat in its fiscal second quarter of 2026, with revenue of $1.06 billion edging ahead of the $1.04 billion consensus by 2.11% and non-GAAP EPS of $2.22 clearing the $2.11 estimate by 5.12%, as the company's largest customer smartphone ramp powered a 36.0% sequential surge in its Advanced Cellular Group segment. Revenue grew 1.1% year-over-year, while non-GAAP gross margin expanded 270 basis points to 49.7%, reflecting ongoing cost discipline and a more favorable product mix. The High Performance Analog segment added further momentum, rising 17.7% year-over-year to $174.60 million on defense and aerospace demand, though the Connectivity and Sensors Group remained a drag, declining 27.2% to $106.90 million. Looking ahead, Qorvo guided fiscal Q3 revenue of approximately $985 million and non-GAAP EPS of $1.85, against a backdrop of a pending $22 billion merger with Skyworks Solutions that, if completed, would create a combined RF chip supplier of considerable scale serving Apple and other major smartphone makers.

Key Takeaways
  • Largest customer smartphone ramp driving ACG sequential revenue growth of 36%
  • Non-GAAP gross margin improvement of 270 basis points year-over-year to 49.7%
  • HPA segment growth in defense & aerospace and infrastructure businesses
  • Cost and productivity initiatives improving profitability
  • Improved revenue mix within and across operating segments

“In the September quarter, ACG supported our largest customer's smartphone ramp while continuing to serve Android's premium and flagship tiers. In HPA, we grew our D&A and infrastructure businesses while supporting a recently launched smartwatch with our power management ICs. In CSG, we consolidated our organizational structure to improve profitability and prioritize opportunities in automotive, industrial, enterprise, and other markets. In the December quarter, we expect year-over-year revenue growth and margin expansion, supported by strategic customers in mobile and D&A markets.”

Qorvo CEO, on the earnings call

Forward Guidance & Outlook

For the December 2025 quarter (fiscal Q3 2026), Qorvo expects quarterly revenue of approximately $985 million, plus or minus $50 million; non-GAAP gross margin between 47% and 49%; and non-GAAP diluted earnings per share of $1.85, plus or minus $0.20. Management expects year-over-year revenue growth and margin expansion supported by strategic customers in mobile and D&A markets. CFO Grant Brown indicated that improving revenue mix within and across operating segments, combined with cost and productivity initiatives, is expected to structurally enhance margins and improve profitability in fiscal 2026 and fiscal 2027.

QRVO YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$300.0M$600.0M$900.0M$1.0B$1.1BRevenue$445.3M$497.1MGross Profit$9.7M$157.7MOperating Income$13.5M$119.6MNet Income
$0$300.0M$600.0M$900.0MRevenueGross ProfitOperating IncomeNet Income

QRVO Revenue by Segment

Advanced Cellular Group$777.0M+3.4%
High Performance Analog$174.6M+17.7%
Connectivity and Sensors Group$106.9M−27.2%

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