Qorvo Q4 Non-GAAP EPS Rises 19% to $1.69 on $808.3M Revenue
QRVO•Qorvo reported fiscal Q4 revenue of $808.3 million and non-GAAP EPS of $1.69, surpassing analysts’ $1.21 estimate. Non-GAAP gross margin jumped to 52.6%, free cash flow reached $255 million, and $400 million of shares were repurchased, while management forecasts fiscal 2027 non-GAAP margin above 50%.
1. Fiscal Q4 Results
Qorvo posted Q4 fiscal 2026 revenue of $808.3 million and delivered GAAP net income of $29.7 million, or $0.32 per share. On a non-GAAP basis, the company reported operating income of $190.2 million and EPS of $1.69, exceeding the $1.21 analyst forecast.
2. Margin and Segment Performance
Non-GAAP gross margin expanded by 670 basis points year-over-year to 52.6%, driven by strategic business mix optimization. HPA segment revenue rose 7.9% to $202.7 million, while ACG and CSG segments saw revenue declines of 11.7% and 7.9%, respectively.
3. Capital Allocation and Outlook
During the quarter, Qorvo generated $255 million of free cash flow and repurchased $400 million of shares, reducing common stock by roughly 5%. The company ended with $1.2 billion in cash and expects fiscal 2027 non-GAAP gross margin above 50% and diluted EPS near $7.00, pausing guidance due to the pending Skyworks transaction.
