Qorvo® Announces Fiscal 2026 Third Quarter Financial Results

About this update from Qorvo, Inc.

[{"type":"text","content":"GREENSBORO, N.C., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading global provider of connectivity and power solutions, today announced financial results for the Company’s fiscal 2026 third quarter ended December 27, 2025. On a GAAP basis, revenue for Qorvo’s fiscal 2026 third quarter was $993.0 million, gross margin was 46.7%, operating income was $192.1 million, and diluted earnings per share was $1.75. On a non-GAAP basis, gross margin was 49.1%, operating income was $247.6 million, and diluted earnings per share was $2.17. Bob Bruggeworth, president and chief executive officer of Qorvo, said, \"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.\" Financial Commentary and Outlook Grant Brown, chief financial officer of Qorvo, said, \"Qorvo’s fiscal third quarter revenue, non-GAAP gross margin, and non-GAAP EPS all compared favorably to guidance. We continue to execute on cost and productivity initiatives to structurally enhance our gross and operating margins. December quarterly non-GAAP gross margin increased approximately 260 basis points versus last fiscal year, and we expect a similar year-over-year improvement, at the midpoint of guidance, in the March quarter.\" Qorvo’s current outlook for the March 2026 quarter is: Quarterly revenue of approximately $800 million, plus or minus $25 millionNon-GAAP gross margin between 48% and 49%Non-GAAP diluted earnings per share of $1.20, plus or minus 15 cents See \"Forward-looking non-GAAP financial measures\" below. Qorvo's actual quarterly results may differ from these expectations and projections, and such differences may be material. Selected Financial Information The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. See the more detailed financial information for Qorvo, including reconciliations of GAAP and non-GAAP financial information, attached. SELECTED GAAP RESULTS(In millions, except for percentag...

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