Qorvo Raises Fiscal 2027 Earnings Outlook Above $7.00

The Tip Desk · July 29, 2026 · 2 min read

Non-GAAP diluted earnings were $1.64 a share in the June quarter as the company lifted its full-year outlook from approaching $7.00 to above that level.

Qorvo (QRVO), a provider of connectivity and power semiconductor solutions, raised its full-year fiscal 2027 non-GAAP diluted earnings outlook to above $7.00 a share, from “approaching $7.00” in the prior quarter, and reiterated an expectation of non-GAAP gross margin above 50%.

The company has discontinued conference calls and forward-looking guidance because of a pending transaction with Skyworks. Fiscal 2027 is a 53-week year, and the fiscal second quarter ending October 3, 2026, will include 14 weeks.

Revenue for the fiscal 2027 first quarter ended June 27, 2026, was $784.8 million, down $34.0 million from $818.8 million a year earlier. President and chief executive officer Bob Bruggeworth said results were supported by double-digit year-over-year revenue growth in D&A, infrastructure, and power, coupled with a pivot in the Analog & Consumer Group to higher-value placements.

GAAP gross margin expanded to 51.1% from 40.5% a year earlier. Non-GAAP gross margin was 52.8%, up 880 basis points from 44.0% a year earlier. Chief financial officer Grant Brown said the company is improving business mix within and across operating segments, reducing capital intensity, and structurally enhancing profitability.

GAAP operating income was $96.8 million, versus $30.1 million a year earlier. GAAP diluted earnings were $0.96 a share. Non-GAAP operating income was $177.6 million. Non-GAAP diluted earnings were $1.64 a share, up 78% from $0.92 a year earlier.

The High-Performance Analog segment, which includes D&A, infrastructure, and power, posted revenue of $206.3 million, up 50.1% from $137.4 million a year earlier. HPA operating income was $70.0 million, for a 33.9% operating margin.

The Connectivity Solutions Group generated $101.9 million of revenue and swung to $3.0 million of operating income from a $6.9 million loss in the prior quarter.

The Analog & Consumer Group, the largest of the three reportable segments, reported revenue of $476.6 million, down 16.6% from $571.2 million a year earlier. ACG operating income was $108.5 million, for a 22.8% operating margin.

Unallocated amounts were an $84.7 million operating loss, improving from a $162.4 million loss in the fiscal 2026 fourth quarter. Total GAAP operating margin was 12.3%.

Free cash flow was $115.3 million, calculated as $139.5 million of cash provided by operating activities minus $24.1 million of property and equipment purchases.

The company continues to expect non-GAAP gross margin above 50% for full-year fiscal 2027. Brown said the company expects continued strong financial performance throughout the year.

Qorvo is a leading global provider of connectivity and power solutions and serves automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure, and mobile markets.