Qorvo reported a strong fiscal 2026 first quarter, with GAAP revenue of $818.8 million, a gross margin of 40.5%, and diluted earnings per share of $0.27. On a non-GAAP basis, the company achieved a gross margin of 44.0% and diluted earnings per share of $0.92, exceeding the high-end of its guidance for both metrics.
The non-GAAP gross margin of 44% achieved the high-end of guidance and represented a meaningful year-over-year improvement. For the upcoming September 2025 quarter, Qorvo provided an optimistic outlook, projecting revenue between $1.01 billion and $1.05 billion, and non-GAAP diluted earnings per share between $1.75 and $1.95.
The company's guidance for the fiscal second quarter non-GAAP gross margin is between 48% and 50%, which would represent a 200 basis-point improvement year-over-year at the midpoint. CEO Bob Bruggeworth stated that these improvements demonstrate the positive effects of strategic actions undertaken across the product portfolio, business segments, and manufacturing footprint to enhance profitability.
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