Earnings ·
Qorvo, Inc. reported fiscal 2027 first quarter results ending June 27, 2026, with GAAP revenue of $784.8 million, a…
QRVOQorvo, Inc.
Qorvo, Inc. reported fiscal 2027 first quarter results ending June 27, 2026, with GAAP revenue of $784.8 million, a 4.2% year-over-year decline. GAAP diluted earnings per share were $0.96, compared to $0.27 in the prior year period. Non-GAAP diluted EPS reached $1.64, up 78% year-over-year, driven by an 880 basis point expansion in non-GAAP gross margin to 52.8%. The company cited double-digit revenue growth in its Defense & Aerospace (D&A), infrastructure, and power segments, alongside a strategic pivot in its ACG segment toward higher-value placements. Qorvo updated its full-year fiscal 2027 guidance, maintaining a non-GAAP gross margin expectation above 50% and raising non-GAAP diluted EPS guidance to above $7.00. Due to a pending merger transaction with Skyworks, Qorvo discontinued conference calls and further forward-looking guidance. Qorvo is a leading global provider of connectivity and power semiconductor solutions for automotive, consumer, defense, and infrastructure markets.