Qorvo Inc (2QO.F) Q2 2026 Earnings Report

Qorvo reported fiscal second quarter 2026 results with revenue of approximately $1.059 billion and non-GAAP gross margin of 49.7%, delivering earnings strength against guidance. GAAP metrics show a solid operating performance: operating income of $157.7 million and net income of $119.6 million, translating to GAAP EPS of $1.29 and non-GAAP diluted EPS of $2.22. The company benefited from a favorable mix toward higher-value content within Advanced Cellular Group (ACG) and continued strength in High Performance Analog (HPA) and infrastructure-related segments, while continuing to de-emphasize lower-margin Android exposure. Management highlighted accelerated profitability through portfolio optimization, factory consolidation, and onshoring of key production, with expected annual OpEx reductions of about $70 million in fiscal 2027. The December quarter guide implies a step-down in revenue to roughly $985 million (±$50 million) and a non-GAAP gross margin range of 47–49%, with non-GAAP EPS around $1.85 (±$0.20), incorporating ongoing Android headwinds and seasonal demand. A strategic backdrop includes the planned Skyworks-Qorvo merger, ongoing cost discipline, and a broader secular tailwind from defense, data center, DOCSIS 4.0, and connectivity initiatives such as ultra-wideband (UWB) adoption and WiFi 7/8 ecosystems.