Qorvo 2026 Q2 Earnings Record Net Income Surges 786%

Qorvo (QRVO) delivered a strong earnings performance in fiscal 2026 Q2, significantly exceeding expectations. The company reported a net income of $119.60 million, a dramatic turnaround from a $17.43 million loss in the prior-year period. Revenue rose 1.1% to $1.06 billion, outpacing estimates, while guidance for Q3 2026 signaled confidence in continued growth.

Revenue

Qorvo’s total revenue increased by 1.1% year-over-year to $1.06 billion in fiscal 2026 Q2. The ACG segment led with $776.96 million in revenue, driven by strong demand in the smartphone market. The HPA segment contributed $174.62 million, reflecting growth in data and infrastructure applications. Meanwhile, the CSG segment reported $106.92 million, though it faced challenges in certain markets. Unallocated amounts remained at $0, aligning with the company’s focus on segment-specific performance.

Earnings/Net Income

Qorvo returned to profitability with an EPS of $1.29 in 2026 Q2, reversing a $0.18 loss in the prior-year quarter. The net income surged 786% to $119.60 million, underscoring a remarkable operational turnaround. This strong performance highlights effective cost management and strategic focus on high-margin segments. The company’s ability to convert revenue growth into profitability signals improved operational leverage.

Price Action

The stock price of Qorvo has experienced volatility in recent periods, dropping 3.95% during the latest trading day and 10.14% over the past week. Month-to-date, the share price has declined 6.35%, reflecting mixed investor sentiment despite the earnings beat.

Post-Earnings Price Action Review

While Qorvo’s earnings results suggest a positive catalyst, the stock’s post-earnings performance has been inconsistent. Historical data from the past three years shows an average 30-day return of +3.4% following revenue beats, with notable outliers such as a +12.3% gain in Q4 2023 and a -5.8% drop in Q1 2024. This mixed performance underscores the influence of broader market conditions and macroeconomic factors on the stock’s trajectory.

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CEO Commentary

CEO Bob Bruggeworth emphasized robust segment performance, particularly in ACG and HPA, while highlighting CSG’s efforts to improve profitability through organizational consolidation. He expressed optimism for the December quarter, citing strategic opportunities in mobile and data and infrastructure markets. The tone reflected confidence in disciplined cost management and long-term growth potential.

Guidance

Qorvo provided Q3 2026 guidance with revenue expected to range between $985 million and $1.035 billion. Non-GAAP gross margin is projected at 47–49%, and diluted EPS is forecasted at $1.85 ± $0.20. The CFO attributed these expectations to ongoing cost/productivity initiatives and revenue mix optimization.

Additional News

Recent developments include ongoing integration plans following the announced combination with Skyworks, which remains a key focus for strategic alignment. While no C-level changes were reported, the company reiterated its commitment to operational efficiency and market expansion. Investors should monitor the merger’s progress, as it could influence Qorvo’s long-term positioning in the semiconductor industry.

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