Qorvo announced its fiscal 2025 third-quarter results, reporting revenue of $916.3 million. On a GAAP basis, gross margin was 42.7%, operating income was $53.0 million, and diluted earnings per share were $0.43. On a non-GAAP basis, gross margin was 46.5%, operating income was $177.9 million, and diluted earnings per share were $1.61.

CEO Bob Bruggeworth highlighted strategic initiatives to expand margins and increase shareholder value. The company’s largest customer accounted for about 50% of sales. Growth was seen in the high-performance analog (HPA) segment, with record revenue in defense and aerospace. The company expects double-digit growth in HPA and connectivity and sensors (CSG) for fiscal 2025 and beyond.

CFO Grant Brown noted that Qorvo exceeded midpoint guidance for revenue, gross margin, and EPS. The company took steps to optimize its Android business, reducing operating expenses and divesting its silicon carbide business. These moves are expected to improve gross margins in fiscal 2026 and 2027.

For the next quarter, Qorvo forecasts revenue of approximately $850 million, a non-GAAP gross margin between 43% and 44%, and diluted earnings per share between $0.90 and $1.10.