It has been about a month since the last earnings report for Qorvo (QRVO) . Shares have lost about 10.3% in that time frame, underperforming the S&P 500.But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Qorvo due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Qorvo, Inc. before we dive into how investors and analysts have reacted as of lat ...

Core Insights - Qorvo Inc. (QRVO) reported strong second-quarter fiscal 2026 results, with adjusted earnings and revenues exceeding Zacks Consensus Estimate [1] Revenue Performance - The company achieved revenue growth year over year, driven by demand in the Advanced Cellular Group (ACG) and High Performance Analog (HPA) segments, with net sales reaching $1.05 billion compared to $1.04 billion in the prior-year quarter [2][4] - The transition to DOCSIS 4 is increasing demand for Qorvo's broadband amplifiers, while strong traction is noted in radars, drones, enterprise and AI data centers, smartphones, and wearables [4] Net Income - On a GAAP basis, net income was reported at $119.6 million or $1.28 per share, a significant improvement from a net loss of $17.4 million or a loss of 18 cents per share in the prior-year quarter [3] - Non-GAAP net income was $208.3 million or $2.22 per share, up from $179.8 million or $1.88 per share in the year-ago quarter, surpassing the Zacks Consensus Estimate by 19 cents [3] Segmental Performance - HPA revenues increased to $174.6 million from $148.3 million year over year, driven by solid performance in defense and aerospace [5] - CSG revenues were $106.9 million, down from $146.8 million in the prior-year quarter due to a delayed ramp-up for a major customer's ultra-wideband product [6] - ACG net sales were $777 million, reflecting a 3.4% year-over-year growth, supported by the premium smartphone segment [6] Other Financial Details - Non-GAAP gross profit rose to $526.2 million with margins of 49.7%, compared to $492 million and 47% in the previous year [7] - Non-GAAP operating expenses decreased to $273.5 million from $279.8 million year over year, resulting in non-GAAP operating income of $252.6 million compared to $212.2 million in the year-ago quarter [7] Cash Flow & Liquidity - As of September 27, 2025, Qorvo had $1.1 billion in cash and cash equivalents and $1.54 billion in long-term debt, generating $84 million in net cash from operating activities with a free cash flow of $42.2 million [8] Outlook - For the third quarter of fiscal 2026, Qorvo expects revenues of $985 million (+/- $50 million) and non-GAAP gross margin to be within 47%-49%, with projected non-GAAP earnings of about $1.85 per share (+/- 20 cents) [10]