Qorvo® Announces Fiscal 2026 Third Quarter Financial Results

Core Insights - Qorvo reported fiscal 2026 third quarter revenue of $993.0 million, with a gross margin of 46.7% and diluted earnings per share of $1.75 on a GAAP basis [2][4] - The company experienced year-over-year revenue growth across all operating segments, particularly in automotive components and consumer Wi-Fi [3][4] - Qorvo's non-GAAP gross margin improved to 49.1%, with non-GAAP diluted earnings per share at $2.17, reflecting strong operational performance [2][8] Financial Performance - Qorvo's GAAP revenue decreased by $65.5 million sequentially from the previous quarter but increased by $76.7 million year-over-year [6] - The GAAP operating income rose to $192.1 million, a 34.4% increase from the previous quarter and a 139.1% increase year-over-year [6] - Non-GAAP operating income was reported at $247.6 million, slightly down from the previous quarter but up 69.7% year-over-year [8] Segment Performance - Revenue from the High Power Amplifiers (HPA) segment was $190.9 million, up 9.3% sequentially and 11.2% year-over-year [9] - The Connectivity and Services Group (CSG) generated $111.3 million, a 4.1% increase sequentially and 1.6% year-over-year [9] - The Advanced Connectivity Group (ACG) reported $690.8 million, down 11.1% sequentially but up 8.8% year-over-year [9] Outlook - Qorvo anticipates a revenue outlook of approximately $800 million for the March 2026 quarter, with a non-GAAP gross margin expected between 48% and 49% [7] - The company expects continued improvements in gross and operating margins, driven by ongoing cost and productivity initiatives [4][3]