Qorvo Inc
Q4 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.73%.
Did QRVO Beat Earnings? Q4 2026 Results
Qorvo delivered a decisive earnings beat in fiscal Q4 2026, with non-GAAP diluted EPS of $1.69 clearing the $1.21 consensus by 39.48%, even as revenue slipped 7.0% year-over-year to $808.28 million, a figure that still edged past the $801.76 million estimate. The standout driver was a sharp improvement in profitability: non-GAAP gross margin expanded 670 basis points year-over-year to 52.6%, reflecting a deliberate reshaping of business mix across segments. The High Performance Analog unit was a particular bright spot, posting $202.70 million in revenue, up 7.9% year-over-year, with GAAP operating margins of 34.7%. Meanwhile, the Advanced Cellular Group, the company's largest segment at $512.30 million, saw ACG margins expand 660 basis points despite a meaningful sequential decline. Qorvo also generated $255.03 million in free cash flow and repurchased $400.05 million in stock during the quarter. With a pending tie-up between <a href="https://247wallst.com/investing/2026/03/14/skyworks-vs-qorvo-two-rf-chip-giants-fighting-for-the-same-5g-dollar/">two RF chip rivals</a> in motion, Qorvo has suspended guidance calls but continues to target fiscal 2027 non-GAAP gross margin above 50% and non-GAAP diluted EPS approaching $7.00.
- Non-GAAP gross margin expanded 670 basis points year-over-year to 52.6%
- Strategic optimization of business mix within and across operating segments
- Reduced capital intensity
- HPA segment revenue grew 7.9% year-over-year with 34.7% GAAP operating margin
- ACG operating margin expanded 660 basis points year-over-year to 25.5%
“Qorvo's fiscal fourth quarter performance reflects continued operational excellence and the strategic optimization of business mix within and across operating segments. March quarterly non-GAAP gross margin expanded by 670 basis points year-over-year, and full-year fiscal 2026 non-GAAP gross margin expanded by 370 basis points versus the prior fiscal year. Looking forward, we expect continued momentum reducing capital intensity and enhancing profitability. For full-year fiscal 2027, we continue to expect non-GAAP gross margin above 50% and non-GAAP diluted earnings per share approaching $7.00.”
Qorvo CEO, on the earnings call
Forward Guidance & Outlook
Qorvo has discontinued conducting conference calls and providing forward-looking guidance given the pending merger transaction with Skyworks. However, CEO Bob Bruggeworth stated the company expects continued momentum in reducing capital intensity and enhancing profitability. For full-year fiscal 2027, Qorvo continues to expect non-GAAP gross margin above 50% and non-GAAP diluted EPS approaching $7.00. Fiscal 2027 will be a 53-week year, with the fiscal second quarter (ending October 3, 2026) including 14 weeks.
QRVO YoY Financials
QRVO Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.