Qorvo (NASDAQ:QRVO) shares climbed 2% on Wednesday after the chipmaker reported fiscal first-quarter results that surpassed expectations, supported by broad demand and improved profitability.
Adjusted earnings per share came in at $0.92 for the quarter ended June 28, 2025, exceeding the consensus estimate of $0.63. Revenue was $818.8 million, above the $776.3 million forecast but down 7.7% year-over-year from $886.7 million.
For the second quarter, Qorvo guided for revenue of approximately $1.025 billion, plus or minus $50 million, and adjusted EPS of $2.00, plus or minus $0.25.
The company projected non-GAAP gross margin between 48% and 50%, representing a 200 basis-point improvement from the prior-year period.
Q1 adjusted gross margin improved to 44.0%, up from 40.9% last year, reflecting operational efficiency and margin enhancement initiatives across Qorvo’s product lines and manufacturing.
