Qorvo Inc ( (QRVO) ) has released its Q2 earnings. Here is a breakdown of the information Qorvo Inc presented to its investors.
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Qorvo Inc., a global leader in connectivity and power solutions, operates in the semiconductor industry, providing innovative products for diverse markets including automotive, consumer, defense, and mobile sectors.
In its fiscal 2026 second-quarter earnings report, Qorvo announced a GAAP revenue of $1.1 billion, with a gross margin of 47% and operating income of $157.7 million. The company also reported a non-GAAP gross margin of 49.7% and non-GAAP diluted earnings per share of $2.22, exceeding the midpoint of their guidance.
Key financial highlights include a year-over-year revenue growth of 1.1% to $1.058 billion and a significant improvement in operating income, which rose to $157.7 million from $9.7 million in the previous year. The company also reported a net income of $119.6 million, a substantial turnaround from a loss of $17.4 million in the same quarter last year. Qorvo’s ACG segment showed strong performance with a 36% sequential revenue increase, while the HPA segment grew by 27.1%.
Looking ahead, Qorvo anticipates continued growth in the December quarter, with expected revenue of approximately $985 million and non-GAAP gross margins between 47% and 49%. The company aims to enhance profitability through strategic customer engagements in mobile and D&A markets, alongside ongoing cost and productivity initiatives.