Companies /Technology

Qorvo Inc

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

Q3 2026 Earnings

Reported Jan 27, 2026, 4:15pm ET · SEC source
$2.17
Beat +16.40%
EPS · est. $1.86
$993.0M
Beat +0.85%
Revenue · est. $984.6M
+7.4%
Beating market
QRVO vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%+8%Jan 27Jan 28report 4:15pm ETearnings−0.0%+1.3%
−4%0+4%+8%Jan 27Jan 28earnings−0.0%+1.3%
QRVO +1.3%S&P 500 −0.0%
−4%0+4%+8%Jan 27Jan 28report 4:15pm ETearnings+0.4%+1.3%
−4%0+4%+8%Jan 27Jan 28earnings+0.4%+1.3%
QRVO +1.3%NASDAQ +0.4%
0+4%+8%Jan 26Feb 4report 4:15pm ETearnings−1.0%+7.2%
0+4%+8%Jan 26Feb 4earnings−1.0%+7.2%
QRVO +7.2%S&P 500 −1.0%
−5%0+5%+10%Jan 26Feb 4report 4:15pm ETearnings−3.7%+7.2%
−5%0+5%+10%Jan 26Feb 4earnings−3.7%+7.2%
QRVO +7.2%NASDAQ −3.7%
−6.80%
Day of report
+1.20%
Next session
+4.88%
One week
+6.14%
30 days

S&P 500 over the same 30 days: −1.30%.

Did QRVO Beat Earnings? Q3 2026 Results

Qorvo delivered a strong fiscal third quarter, posting non-GAAP EPS of $2.17, beating the $1.86 consensus estimate by 16.40%, as aggressive cost discipline and meaningful margin expansion drove results well ahead of expectations. Revenue of $992.96 million rose 8.4% year-over-year and edged past the $984.60 million consensus by 0.85%, with all three operating segments contributing to the growth, led by the Advanced Cellular Group's $690.80 million in sales. The clearest driver behind the earnings beat was margin improvement, with non-GAAP gross margin expanding 260 basis points year-over-year to 49.1% and non-GAAP operating margin climbing to 24.9% from 19.4% a year ago, reflecting sustained cost and productivity initiatives that reduced operating expenses to $239.92 million. The company's pending merger with Skyworks Solutions added a new layer of complexity to the quarter's financials, with $14.72 million in merger-related costs recorded. Looking ahead, Qorvo guided fiscal Q4 revenue to approximately $800 million, reflecting seasonal softness at its largest customer, with non-GAAP EPS expected around $1.20, though the company anticipates sustaining its roughly 260 basis point gross margin improvement year-over-year.

Key Takeaways
  • Strength at largest customer driving ACG revenue
  • Automotive components growth in HPA segment
  • Consumer and enterprise Wi-Fi strength in CSG
  • Defense & aerospace (D&A) demand
  • Base station and power management growth
  • Non-GAAP gross margin improvement of approximately 260 basis points year-over-year
  • Cost and productivity initiatives structurally enhancing gross and operating margins

“Qorvo's December quarterly revenue primarily reflects strength at our largest customer. Each of our operating segments grew revenue year-over-year, with notable strength in automotive components, consumer and enterprise Wi-Fi, D&A, base station, and power management. Looking forward, our March quarterly outlook reflects the seasonal decline at our largest customer, the ongoing strategic resizing of our Android business, and continued strength in HPA.”

Qorvo CEO, on the earnings call

Forward Guidance & Outlook

For the March 2026 quarter (fiscal Q4), Qorvo expects revenue of approximately $800 million (±$25 million), non-GAAP gross margin between 48% and 49%, and non-GAAP diluted EPS of $1.20 (±$0.15). The sequential decline reflects seasonal weakness at the company's largest customer and the ongoing strategic resizing of the Android business, partially offset by continued strength in the HPA segment. Management expects non-GAAP gross margin to improve approximately 260 basis points year-over-year at the midpoint of guidance, consistent with the fiscal Q3 improvement.

QRVO YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$300.0M$600.0M$900.0M$916.4M$993.0MRevenue$391.4M$464.2MGross Profit$53.0M$192.1MOperating Income$41.3M$164.1MNet Income
$0$300.0M$600.0M$900.0MRevenueGross ProfitOperating IncomeNet Income

QRVO Revenue by Segment

Advanced Cellular Group$690.8M+8.8%
High Performance Analog$190.9M+11.2%
Connectivity and Sensors Group$111.3M+1.6%

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