Q2 2026 Qorvo Inc Earnings Call Transcript
Key Points
- Qorvo Inc (QRVO) delivered solid operating performance with fiscal second quarter revenue of $1.059 billion, exceeding guidance.
- The company is restructuring its CSG to focus on top opportunities, expected to reduce operating expenses by approximately $70 million annually in fiscal 2027.
- Qorvo Inc (QRVO) is benefiting from strong unit volumes and greater than 10% year-over-year content growth at its largest customer.
- The company is seeing double-digit year-over-year growth in defense and aerospace markets, driven by new platforms and increased US and allied defense spending.
- Qorvo Inc (QRVO) is a leading supplier in the transition to DOCSIS 4.0, benefiting from strong demand for broadband amplifiers.
- Qorvo Inc (QRVO) is exiting the lower-margin Android market, resulting in a $200 million revenue decline this fiscal year and next.
- The company is experiencing a sequential revenue decline in the Android ecosystem, particularly in China.
- Qorvo Inc (QRVO) anticipates a normal seasonal decline at its largest customer heading into the December quarter.
- The company is facing challenges with lower content in its largest Android customer's first half flagship ramp next year.
- Qorvo Inc (QRVO) is undergoing significant restructuring, including the closure of facilities and transitioning production to external partners, which may impact operations.
Good day, and welcome to the Qorvo, Inc second quarter 2026 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I would now like to turn the conference over to Doug DeLieto, Vice President, Investor Relations. Thank you, and over to you
Thanks very much. Hello, everyone, and welcome to Qorvo's Fiscal 2026 second quarter earnings call. This call will include forward-looking statements that involve risk factors that could cause our actual results to differ materially from management's current expectations. We encourage you to review the safe harbor statement contained in the earnings release published today as well as the risk factors associated with our business in our annual report on Form 10-K filed with the SEC because these risk factors may affect our operations and financial results.
In today's release and on today's call, we provide both GAAP and non-GAAP financial results. We provide this supplemental information to enable investors to
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