Description

Qorvo’s $300 Million Android Exit: Can Higher Margins Offset The Revenue Hit?

Qorvo, Inc. reported third quarter fiscal 2026 results that reflected steady financial performance supported by strategic initiatives across its three main operating segments: Advanced Connectivity Group (ACG), Connected Systems Group (CSG), and High-Performance Analog (HPA). Revenue for the quarter reached $993 million, exceeding guidance, with a non-GAAP gross margin of 49.1% and non-GAAP diluted earnings per share (EPS) of $2.17. The company ended the quarter with $1.3 billion in cash and equivalents and reduced inventory levels sequentially by $75 million, generating free cash flow of $237 million. In ACG, which supplies components to leading smartphone OEMs, December quarter revenue declined sequentially due to typical seasonality and strategic reductions in low-margin mass-tier Android exposure. Content gains at Qorvo’s largest customer partially offset declines, resulting in expected flat revenue for the full fiscal year 2027 from that customer.